The right-back cum central defender will formalize the agreement reached with the Saints by putting pen to paper on a two-year contract on Wednesday afternoon, as from 1430 hours.
One of Southampton's retained players for the 2020-2021 season, he would have walked away from the South Coast club as a free agent today if he didn't take up the offer to extend his stay.
Olufunwa officially joined the Southampton Academy in 2010 after he was scouted while playing for a local club, and came through the ranks before making his debut for the U23 squad.
The 18-year-old has appeared in 12 matches in the Premier League 2, scoring one goal against Wolverhampton Wanderers in a 1-0 win back in February 2020.
He has also represented Southampton in the Premier League International Cup, U18 Premier League and FA Youth Cup.
Former Arsenal schoolboys Nathan Tella and David Agbontohoma are the other players of Nigerian descent offered new Southampton contracts ahead of next season.
Ifeanyi Emmanuel
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