According to The Times Marcus Smith's first professional contract has made the 18-year-old the highest-paid teenager in World Rugby.
The 18-year-old half will see out the rest of this season on an academy contract worth less than £30,000 a year.
His new contract that will see him remain at the club through to the summer of 2022 is expected to start at £230,000 a year before bonuses.
The massive increase of £200 000 a year is a sign of how desperate Harlequins were to secure the signature of one of the world's hottest prospects.
Smith, who was born in the Philippines, last year became the second youngest debutant in the Premiership at 18 years and 200 days old.
Give his potential one would think that Eddie Jones will hand the youngster his Test debut sometime soon but Harlequins director of rugby John Kingston has pleaded with Jones to be patient and not to give Smith a Test debut during this year's Six Nations.
'Eddie’s decision to have him involved in the group – that’s fine, that’s up to him – but he is a way off being someone to play international rugby,' said Kingston. 'I am a great believer that you come into an international set-up when you are good enough to play 50 times for your country, not get one game and thrown back because it was not the right thing.'