The 33-year-old is on the verge of joining Diego Simeone’s side in a €4 million (£3.6m) deal after an agreement between the two clubs was reached on Tuesday evening.
Barcelona’s chairman, Josep Maria Bartomeu, had initially blocked Suarez’s move to Atletico as he did not want the striker to join a La Liga rival.
But Suarez was furious with the decision and Barcelona backed down after the Uruguayan threatened to hold a press conference with his lawyers if the move to Atletico was not cleared.
Barcelona’s hierarchy have been keen to offload several senior players this summer and Suarez becomes the latest high-profile departure after Arturo Vidal and Ivan Rakitic.
Suarez was a popular member of Barcelona’s dressing room and the striker has become close friends with Lionel Messi.
— Alex Pintanel (@alexpintanel) September 23, 2020
On Wednesday, Suarez left Barcelona’s training ground for the final time after bidding an emotional farewell to his teammates.
And as he drove away, Suarez was seen with tears in his eyes by reporters standing by.
Suarez leaves Barcelona as their third-highest goalscorer of all time and during his six years at Camp Nou he has helped the club win four La Liga titles, four Copa Del Rey trophies and the Champions League in 2015.
Suarez had come close to joining Juventus this month but the Serie A champions backed out of a deal as the striker was unable to obtain an Italian passport.
But the striker has been accused of cheating the exam with Italian authorities claiming that he had already pre-agreed parts of the test.