Philippe Coutinho is expected to arrive at the club in the next few days to complete a medical and the formalities of his loan deal.
Yesterday marked four years since the 29-year-old departed Liverpool for Barcelona, and it's now been confirmed that he will return to the Premier League.
"The agreement, which is subject to the player completing a medical and receiving a work permit, also includes an option to buy and Philippe will travel to Birmingham in the next 48 hours."
With Barcelona still struggling financially, they also confirmed that Villa have agreed to pay a part of Coutinho's wages during his loan stint.
The tricky Brazilian will hope the move will reignite his career after faltering in Spain following his £146million move back in 2018.
He was linked with a Premier League return ahead of the 2019/20 season, but instead endured a frustrating loan spell at Bayern Munich.
Now having drifted further from the first team picture at Camp Nou, he has returned to England in hopes of rediscovering the form that earned him the Barcelona move in the first place.
Coutinho's arrival marks Gerrard's first signing as Aston Villa manager since he took over in November.
"He's won two league titles at Barcelona, two Copa del Reys," Gerrard said on Thursday.
"If you go and have a look at his Wiki page you'll see a serial winner wherever he goes.
"He's won 63 caps for Brazil, played for Barcelona and was incredible at Liverpool.
"So I can understand why he's linked to a lot of football clubs. I can understand why a lot of supporters up and down the country are speaking about him.
"I don't think you get a nickname of 'The Magician' if you're not a special footballer."
Villa's next two fixtures are against Manchester United, with the first coming on Friday in the FA Cup, before an identical Premier League clash on January 15.
Coutinho will likely miss out on Friday's affair, but it seems inevitable that his debut will be made against old foes next Saturday.