Celta Vigo, based in Spain's northwestern Galicia region, will pay the Catalan giants 12.9 million euros ($14.7 million) plus 3.1 million euros in variables, Barcelona said in a statement late on Sund
Suarez joined Arsenal in January but made only six substitute appearances under Unai Emery
Suarez has struggled since his January loan move from Barcelona and the Spanish midfielder is yet to make a competitive start for the Gunners.
Barcelona is set to work out at Wembley on Tuesday, after which Valverde and Ivan Rakitic are to hold a press conference.
Denis Suarez picked up the injury on July 29 during a pre-season clash with Tottenham Hotspur and had been sidelined since.