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Liverpool have agreed a transfer fee with Barcelona for Javier Mascherano, who asked to leave Anfield in July.
The Reds website said: "The Spanish club have now been given permission to speak to the Argentina midfielder."
Liverpool were keen to recoup the ÂŁ18m they paid three-and-a-half years ago, after Mascherano joined from West Ham.
And the Catalan giants confirmed: "The clubs have reached an agreement in principle for the transfer of Mascherano for the next four seasons."
The statement on Barcelona's website continued: "The deal was closed after intensive efforts made by the club in the final hours and through the player himself in the negotiations.
"Barcelona will report the details of the operation once the player passes the medical and the transfer is concluded.
"It is hoped Javier Mascherano will arrive in Barcelona this weekend."
Liverpool had rejected an initial bid of ÂŁ16m from Barcelona seven days ago but reports suggest the new offer is closer to the club's ÂŁ25m valuation of Mascherano.
The 26-year-old missed Thursday's trip to Trabzonspor, where Liverpool secured a place in the group stages of the Europa League with a 3-1 aggregate win.
The Argentina captain joined Liverpool from West Ham in 2007, initially on a loan deal that was turned into a four-year contract in 2008.
Barcelona failed in an attempt to lure him to Spain last summer but on his return from the World Cup in July, Mascherano made it clear he wanted to leave Anfield, saying his wife could not settle in England.
Since taking charge of Liverpool in July, manager Roy Hodgson has been eager to end the uncertainty surrounding Mascherano's future.
"I am seriously hoping that in the next couple of days it will be sorted out one way or another," stated Hodgson on Thursday. "Although I have no idea which way that will be."
Liverpool have also received a bid for Mascherano from Inter Milan, now coached by Hodgson's Reds predecessor Rafael Benitez.
But former Fulham boss Hodgson dismissed the offer from the Italian side saying: "We received a fax about Mascherano [from Inter], but it was a joke fax."
Mascherano did not travel to Trabzon for the Reds' Europa League play-off but prior to accepting Barca's bid, Hodgson had said he would not rule out selecting the combative midfielder for Sunday's Premier League game against West Brom.
Meanwhile, Inter have also been linked with a move for Liverpool forward Dirk Kuyt.
However, following the victory over Trabzonspor the Dutch World Cup finalist committed his future to Anfield.
"I have had a great time here so far and hope my future here will be great as well and that I can win trophies with Liverpool," said Kuyt.
Source: BBC
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