The two clubs will now proceed with the paperwork before confirming the move officially, with Torres set to reunite with Luis Enrique, who managed him at international level and pushed hard for the deal on PSG's behalf.
Torres did not report for pre-season training on August 12 as scheduled, a clear sign the move was close to completion, and is now expected to fly directly to Paris rather than return to Barcelona's training ground.
The 26-year-old scored the extra-time winner for Spain in the World Cup final against Argentina, a moment that only increased his profile ahead of the move. He leaves Barcelona having made 207 appearances and scored 65 goals, including a Copa del Rey final strike against Real Madrid that remains among the club's most memorable moments of recent years.
His trophy haul in Catalonia includes three La Liga titles, one Copa del Rey and three Spanish Super Cups, closing out four and a half years at the club since his arrival from Manchester City.
Signed from City for around €55m, Torres adapted to whatever role Barcelona required of him, shifting over the years from a wide forward into a central striker's role, where he competed with Robert Lewandowski for the starting spot across the past two seasons.
That willingness to move around the front line, without ever fully establishing himself as a guaranteed starter, came to define his time at Camp Nou even as he remained a popular and reliable squad option under multiple head coaches.
His contract was due to expire next summer, and with no offer of an extension on the table, he decided before the World Cup to explore a move away — a decision he hinted at publicly in an interview with CNN after his World Cup final goal, saying: "I have a contract with FC Barcelona, but in football you never know."
That comment set in motion the interest from Luis Enrique and PSG, the reigning European champions, who saw off competition from Atlético Madrid to win the race for his signature. PSG had already sold Randal Kolo Muani this summer, freeing up space in their squad and budget for the move.
The fee represents a significant boost for Barcelona's finances. Prior to this deal the club had raised only €11m from the sale of Ansu Fati and a further €3m for goalkeeper Iñaki Peña this summer, meaning the Ferran Torres money could prove decisive in funding other business — including the club's pursuit of Manchester City midfielder Rodri.