Chief Constable is set to have his contract extended for three years
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According to the BBC, the the move was agreed unanimously by the Policing Board and accepted by Mr Byrne.
It is now awaiting approval of its decision by the Department of Justice but that is considered a formality.
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Hide AdMr Byrne – who was previously chief constable of Cheshire Police – initially arrived in Northern Ireland in July 2019 on a five-year deal.
But that will now be extended until 2027 – and by then 60-year-old Mr Byrne would become the PSNI's longest-serving chief constable.
According to the BBC discussions began weeks ago and all 19 board members, including representatives of the five largest political parties, backed the move at a meeting on April 6.
It is believed the decision involved an assessment of Mr Byrne's performance to date, as well as his objectives for the years ahead.
According to the PSNI's accounts for 2021-22, the chief constable position carries a salary of about £230,000.