Alexis Sanchez is set to join Barcelona from Udinese for a fee of £23m, which could rise as high as £33m.
The Chilean winger, who will undergo a medical on Monday, has signed a five-year deal with the La Liga and Champions League holders.
Sanchez, 22, was voted Serie A's best player last season having scored 12 times in 31 games.
Sanchez, who has 40 caps for Chile, signed for Udinese in 2006 from Chilean side Cobreloa.
Should the deal reach the maximum £33m, it will be Barcelona's second most expensive signing having paid Inter Milan £40m for Zlatan Ibrahimovic in a move that saw Samuel Eto'o move in the opposite direction.
"Sanchez is very young," said Barca coach Pep Guardiola.
"He can play in all three attacking positions, he shows intense defensive skills, he's direct and from what I've been told, he's a very nice kid."
Sanchez was the subject of a bid by Manchester City last month but, despite the Chilean being open to a move to the Etihad Stadium according to boss Roberto Mancini, City withdrew their bid.