According to AS (opens in new tab), Aguero has agreed a two-year deal, which will be signed as soon as Joan Laporta takes over as Barcelona president.
Laporta was recently re-elected, having previously served as president between 2003 and 2010, a period of great success for the Catalan club.
Aguero is soon to be out of contract at Man City and has lined up a move to Barcelona, where he will be joined by Eric Garcia.
The Spanish international centre-back came through the Barcelona youth system before moving to the Etihad in 2017 and has long been tipped for a return to his boyhood club.
Aguero has been a huge factor in Man City’s rise to prominence, scoring 257 goals in 383 appearances in all competitions.
The Argentine international, who has won 97 caps for his country, surpassed Eric Brook as City’s all-time leading goalscorer four years ago.
He famously scored a title-clinching goal in injury time against Queens Park Rangers at the end of his first season and has gone on to lift the Premier League trophy a further three times.
City’s domestic dominance has also extended to an FA Cup, five League Cups and three Community Shields over the last decade.
The current season has been disrupted by injuries and illness, limiting Aguero’s involvement to just 13 games.
He finally scored his first league goal in over a year on Saturday, firing home from the penalty spot to round off a 3-0 win over Fulham that leaves City 17 points clear at the top of the table.
The future of Lionel Messi, which is still undecided at the moment, may play a part in Aguero’s decision to move to the Nou Camp.
Messi, who is a close friend and international teammate of Aguero, is also out of contract this summer and has been linked with moves to Man City and Paris Saint-Germain.
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