Coutinho has been chased by Ernesto Valverde for several weeks.
However, Liverpool bigwigs have stubbornly dug their heels in.
But Barca kept pushing and a deal now appears to have been struck.
Media outlet Don Balon say Coutinho has agreed terms with the Catalans.
It’s suggested a formal £138m agreement is very close.
The two clubs are just negotiating bonus clauses.
Barca have already splashed the cash this summer.
They coughed up an eye-watering £135m for Ousmane Dembele from Borussia Dortmund.
“Liverpool star Philippe Coutinho is wanted by Barcelona”
Having paid so much for the France international, Don Balon say Barca are surprised Liverpool haven’t pushed them harder on price for Coutinho.
Meanwhile Liverpool have emerged as serious suitors for Monaco ace Thomas Lemar who could also fill Coutinho’s boots.
Yesterday it was claimed that Jurgen Klopp’s side had offered £66m plus add-ons for his signature.
But Arsenal appear to have edged ahead in the race for his signature.
The Gunners have had a £90m accepted for the France international.
However, it’s understood Lemar will only move to the Emirates if Alexis Sanchez is offloaded.
The Chilean is the subject of ongoing interest from Pep Guardiola’s Manchester City.