Penrith Panthers and New South Wales State of Origin star halfback Nathan Cleary, as well as coach Ivan Cleary, are set to re-sign with the club until the end of the 2027 season, with the news likely to be announced on Wednesday.

Multiple publications are reporting the deal is done, with the news to be announced at a press conference by the club.

The signings come as the Panthers enjoy a strong start to yet another season, sitting at the top of the NRL ladder with five wins from five starts.

It comes after they put on a dominating display during the first half of last year before doing things the hard way and eventually taking out the premiership in their second straight grand final.

Ivan Cleary, who has been coaching the club since 2019, has coached a talented crop of young local talent, led by son Nathan, who has rubber stamped his spot at the top of the game, leading not only the Panthers to the premiership, but also New South Wales to a State of Origin victory in 2021 before finishing in second spot on the Dally M race.

It's understood the deal will see Nathan take home around $1 million per season - around $300,000 less than he may have bee able to get on the open market - while Ivan will also be in for a considerable bump up.

It is also being reported by The Sydney Morning Herald that a clause in Nathan's contract will see his pay rise if the salary cap rises.

Ivan was off-contract at the end of the 2023 season following a five-year deal, while an option in Nathan's contract meant he was already with the club until 2024.

Signing on until the end of the 2027 season will ensure both father and son remain in their roles at the foot of the mountains for another five years after the currently running season.