Coutinho has been heavily linked with a move to Catalonia since last summer, but Liverpool reportedly rejected three bids from Barca during the off-season, while they also turned down a transfer request from Coutinho.
However, Barcelona have maintained their interest in the 25-year-old throughout the first half of the season and Liverpool have now confirmed they have reached an agreement with the Blaugrana, with reports suggesting the overall fee is likely to be in excess of £140million.
A club statement read: “Liverpool Football Club today issued the following statement regarding the future of Philippe Coutinho.
“Liverpool FC can confirm Philippe Coutinho will be leaving the club after a transfer agreement was reached with FC Barcelona, subject to medical and agreement of personal terms.
“The player now has permission to complete the usual formalities to conclude the transfer immediately.”
Reds boss Jurgen Klopp has also spoke about how the club have reluctantly accepted a bid for Coutinho, but he insists they did all they could to persuade him to remain on Merseyside.
“It is with great reluctance that we – as a team and club – prepare to say farewell to a good friend, a wonderful person and a fantastic player in Philippe Coutinho,” Klopp told the club website.
“I can tell the Liverpool supporters that we, as a club, have done everything within our means to convince Philippe that remaining part of LFC was as attractive as moving to Spain, but he is 100 per cent certain his future – and that of his family – belongs at Barcelona.”
Coutinho made over 200 appearances in all competitions for Liverpool, with his last outing seemingly coming during the Reds’ 2-1 victory over Leicester on December 30.