Gerard Deulofeu is returning to Barcelona after the Spanish club triggered the buy-back clause in his deal with Everton on Friday.
The 23-year-old right winger joined Everton in June 2015, on condition that Barcelona could re-sign him within the first two years of his contract.
Barcelona said it has activated the clause and will finalize the transfer in the coming days. Barca said Deulofeu’s contract will run through June 2019.
Deulofeu came through Barcelona’s famed La Masia academy, but failed to establish himself in the first team and spent seasons on loan at Everton (2013-14) and Sevilla (2014-15). Overall, Deulofeu scored five goals in 62 league games for Everton.
He spent the second half of last season on loan at AC Milan from Everton, scoring four league goals in 17 games.
Barcelona also said on Friday that it had agreed to transfer 25-year-old forward Cristian Tello to Real Betis, where he has signed a five-year contract.
Tello had played on loan at FC Porto and Fiorentina for the past three seasons.
Real Madrid also announced that it had transferred 23-year-old reserve team striker Mariano Diaz to French club Lyon.