Arsenal has agreed terms with Barcelona for the transfer of midfielder
Barcelona confirmed in a statement the fee for Song will be
The Barcelona statement read: "Barcelona have agreed a deal with Arsenal for the transfer of Alex Song to the Nou Camp. The fee is 19 million euros
"The Cameroon international midfielder will sign for the next five seasons with a release clause of 80 million euros ($94.67 million).
"On Monday he'll have a medical and then join the rest of the squad for the official team presentation at the Joan Gamper Trophy."
Barca, which begins its Primera Division campaign against Real Sociedad on Sunday evening (Monday morning AEST), faces Sampdoria in the Joan Gamper Trophy on Monday evening (Tuesday morning AEST) at the Nou Camp.
Arsenal, which has also seen captain Robin van Persie move to Manchester United, began its Premier League campaign with a goalless home draw against Sunderland.
Song sat the match out amid widespread speculation he was on the verge of a move to Barca.
Song, primarily a defensive midfielder, joined the Gunners on loan from French club Bastia in August 2005 before Arsene Wenger made the move permanent at the end of the 2005-2006 season.
In the following season he spent the second half of the campaign on loan at Charlton Athletic before returning to Arsenal and subsequently establishing himself as a key member of Wenger's squad.
In total, Song has made 204 competitive appearances for Arsenal during his seven seasons at the club, scoring 10 goals.
If he completes his move to Barca, Song would become the Primera Division club's second major signing of the northern summer after the capture of Spain fullback Jordi Alba from Valencia.
Song would also be following a well-worn path to Barca, with Marc Overmars, Emmanuel Petit, Giovanni van Bronckhorst, Thierry Henry, Alexander Hleb and Cesc Fabregas having all moved from Arsenal to the Nou Camp during Wenger's reign.