The Reds have agreed on a deal with Barca for the 26-year-old Argentina skipper.
A statement on the club’s official website read: “Liverpool Football Club have agreed terms for the transfer of Javier Mascherano to FC Barcelona.
“The Spanish club have now been given permission to speak to the Argentina midfielder.”
A statement on the Barcelona’s official website read: “FC Barcelona and Liverpool FC have reached an agreement in principle for the transfer of Javier Mascherano to the club for the next four seasons.
“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.”