The deal is an improvement on the current deal between the two parties.
Marca says the terms will be improved and could see Barca earning as much as €127m-a-season - including bonuses. In total, the deal could be worth €1.7bn to the Blaugrana.
Barca announced: "FC Barcelona and Nike , two leading brands in the sports industry, are pleased to announce a new beginning with a multi-year collaboration agreement, effective as of this season, which brings a new model of collaborative strategic partnership between both organizations.
"This new partnership consolidates Nike as the Principal Partner of the Club and Official Technical Partner in all professional and amateur teams, providing a unique model that strengthens the brand association and drives the growth of the global retail and licensing business.
"Nike has a key strategic role in the Club's retail operations and, together with Barça Licensing & Merchandising, will join forces in the development of specific plans related to product creation, supply chain and global distribution."