Philippe Coutinho has been prime target for Barcelona this transfer window
In recent weeks, the Catalan giants have stepped up their efforts to sign the Brazil international.
Barcelona are on the lookout for a long-term replacement for club captain Andres Iniesta, whose contract at the Nou Camp expires next summer.
They have been courting Paris Saint-Germain's Marco Verratti but the Ligue 1 giants' interest in Neymar has complicated the situation.
As a result, Barca boss Ernesto Valverde has been forced to turn his attentions to the Premier League.
And Radio Catalunya are reporting Coutinho has now agreed terms with Barcelona.
The news was quickly picked up on by transfer guru Tancredi Palmeri.
"BOOM! Barcelona and Coutinho have reached an agreement according to Radio Catalunya," he said on Twitter.
Previous reports have claimed Lionel Messi, Neymar and Luis Suarez all want the player signed.
Barcelona are aiming to strengthen after missing out on the La Liga title and Champions League to Real Madrid last season.
Should the deal go ahead, then Coutinho will become one of the most expensive players in Barcelona's history.