The 29-year-old Brazilian goalkeeper will sign a 4-year contract with Barcelona, the Spanish club said in a statement on its website.
"FC Barcelona and Valencia CF have reached an agreement for the transfer of the player Norberto Murara Neto," the club said.
"The player will be signing a contract with the club for the next four seasons, until the end of the 2022/23 season, and his buyout clause has been set at 200 million euros [$228 million]," the club added.
The Spanish giant will pay €26 million ($30 million) plus €9 million ($10 million) in add-ons to Valencia for Neto.
On Wednesday, Barcelona had agreed to deal their backup goalkeeper Jasper Cillessen to Valencia.
Valencia will pay Barca €35 million ($40 million) for the 30-year-old Dutch goalkeeper.
In an earlier statement, Barca expressed gratitude for the Dutch international, who never made it to be the first option for the Spanish giants.