We understand that the Spaniard is now pressing ahead with plans for next season with owner Mike Ashley having given the manager complete control of transfers for the first time under his stewardship.
Sources close to Benitez say they do not anticipate any hitches and he has already started drafting the names of players he will attempt to bring to the club this summer.
Ashley met with managing director Lee Charnley on Tuesday as they finalised the terms of the agreement which will keep Benitez at St James' Park and an announcement is expected before next week.
Charnley – who has been blamed for last June's appointment of Steve McClaren and failure to sack him until it was too late – is set to survive, for Benitez is said to be comfortable working alongside the former club secretary as opposed to a director of football.