The deal, which was announced on both clubs' websites on Monday evening, is still pending an agreement between the Spanish champions and the player, but if all goes to plan then the Holland international will move to the Nou Camp when the January transfer window opens.
Sky's the limit: PSV Eindhoven star Ibrahim Afellay has earned a move to Barcelona
Barca's statement read: 'PSV Eindhoven and Barcelona have reached an agreement on a deal to bring Ibrahim Afellay to Barca, subject to successfully settling personal terms between the player and the Catalan club over the coming weeks.
'Until the deal is finally settled, Ibrahim Afellay wishes to concentrate on the upcoming important games for PSV.'
The 24-year-old Afellay's contract with PSV was due to expire at the end of the season and it was announced last month that he would not be penning a new deal with the Dutch outfit, with whom he has spent his whole career so far.
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