According to the South China Morning Post, Mr Xi is set to promote a new team to China’s highest decision-making body.
Together with ideology tsar Wang Huning, 67, and anti-corruption chief Zhao Leji, 65, they will form the new Politburo Standing Committee.
All allegedly have a close allegiance with Mr Xi.
The announcement of Mr Xi’s historic third term comes after a week-long political meeting, 20th Party Congress of the Communist Party of China, eliminated key rivals.
READ MORE: Boris Johnson and Rishi Sunak meet ahead of leadership deadline
This event takes place once every five years with the central purpose of choosing the people who will take on the top leadership roles for the next five years.
Having ruled for a decade already, Mr Xi’s victory today means that he will stay on for at least another five-year term.
This break in tradition has made the President the most powerful leader in China since Chairman Mao.
Shanghai Communist Party chief Li Qiang trailed after Mr Xi onto the stage at the Great Hall of the People upon the historic news, suggesting to some he is likely to succeed Li Keqiang as premier when he retires in March, reports claim.
Experts have previously predicted that Mr Li would be the second in command as Premier, being a Xi Jinping loyalist and working closely with him earlier in his career.
Professor Yang Zhang of American University earlier told the BBC: “Li Qiang will become the first official who is directly promoted from a province or municipality to be premier without any working experience at the centre.
“Except for Premier Zhou Enlai, Li will also be the only premier who has not served as vice premier.”
Mr Xi addressed the media and announced that the party successfully concluded the conference.
He added that the party is “holding high our banner, pulling together our strength and forging ahead in unity”.
He introduced his team in the Politburo standing committee and stated: “They are all quite familiar to you.”
Mr Xi continued: “Now we are taking confident strides on a new journey to turn China into a modern socialist country in all respects.
“To advance to the second centenary goal and to embrace the great rejuvenation of the Chinese nation on all fronts, for a Chinese path to modernisation.”