The Chile international will undergo a medical on Monday before putting pen to paper on a five-year contract.
Sanchez, 22, has been heavily linked with the European Cup winners for the majority of the summer, but there was also interest from the likes of Chelsea and Manchester City.
Barca coach Pep Guardiola has made no secret of his admiration of the pacey winger and has now finally got his man after negotiations between the two clubs.
Source: Team Talk
Source: Team Talk