Caicedo, born in 2007, plays as a left winger and would join Barcelona through a transfer that includes a mandatory purchase clause worth €2.5m.
The deal represents a long-term bet on the teenager's potential rather than an immediate first-team addition, with Barcelona increasingly turning to South American academies in search of value signings at the development level.
Should the move go through as expected, Caicedo would become the latest in a series of young South American prospects brought to Barcelona's reserve and academy setup in recent windows, as the club continues to balance limited first-team spending power with a longer-term strategy of identifying talent before it commands a significantly higher fee on the open market.
The relatively modest fee involved reflects the early stage of the operation, with Barcelona betting on development potential rather than an established track record at senior level. Deals of this nature have become an increasingly common feature of the club's recruitment approach in recent years, allowing Barcelona to secure first refusal on promising young talent from leagues outside Europe's traditional scouting networks.
Further details on the structure of the agreement, including any timeline for Caicedo's move to Spain, are expected to emerge as the transfer progresses toward completion.
For LDU Quito, the sale continues a pattern of Ecuadorian clubs producing young talent that attracts attention from major European sides, with the relatively modest fee reflecting the early stage of Caicedo's career rather than any lack of ambition on Barcelona's part.