The France international moves to the club for a fee of €25 million, with a buy-out clause of €60m embedded into his deal.
Umtiti made his Lyon debut in 2011 and made 170 appearances for the club, winning the Coupe de France and Trophee des Champions with the Ligue 1 club.
The 22-year-old also won the Under-20 World Cup with France in 2013, and has won three caps for the senior French team, playing 90 minutes against Iceland and Germany at Euro 2016, and the entire 120 minutes against Portugal in the final.
Umtiti will undergo a medical on Friday and sign his contract, ahead of being presented as a Barcelona player.
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