Liverpool have agreed a deal worth up to €26.5 million (£22.8 million) to sign Luis Suarez from Ajax.
Liverpool have been in negotiations with Ajax for some time and, with the last offer said to have been worth just half of Ajax's desired €30 million, it was believed the talks may have reached an impasse.
Ajax had set a deadline of Saturday for the deal to be concluded and coach Frank de Boer said he believed the deal had a "50-50 chance" of going through, but the move is now expected to be completed over the weekend.
A statement on the official Ajax website read: "Ajax and Liverpool have reached an agreement over the transfer of Luis Suarez. He will make the move to the English club immediately. The deal is worth up to a total of €26.5 million."
Liverpool will now seek to agree personal terms with Suarez, 24, and the player will undergo a medical.
A Liverpool statement added: "Liverpool Football Club announced this afternoon that they had agreed a fee of up to €26.5 million with Ajax for the transfer of Luis Suarez, subject to the completion of a medical.
"The club have now been given permission by Ajax to discuss personal terms with the player and his representatives."