The 25-year-old midfielder has agreed to a one-year contract extension with Barcelona until June 2021, although Arsenal have an option to make his move permanent in the summer.
Suarez has played 71 times for Barcelona since first joining the club in 2013, but has played just 17 minutes in La Liga this season.
“FC Barcelona and Denis Suárez have reached an agreement for the extension of the player’s contract with the club, which ended on 30 June 2020, until 30 June 2021,” the Spanish club said in a short statement on Wednesday afternoon.
“FC Barcelona have also agreed a loan deal for Suárez with Arsenal for the remainder of the 2018/19 season. The Premier League club will pay the player’s salary during this time and the agreement includes an option to buy.”
Suarez was first offered to the Gunners back in December, as revealed by The Independent, and became enthused about the prospect of a reunion with Unai Emery after Arsenal began to show concrete interest in bringing him to London.
At the start of the week reports in Spain claimed the move was in danger of collapsing after Arsenal refused to agree to an obligatory option to buy, but Suarez’s decision to agree to a contract extension to protect his market value has helped push the deal over the line.
After Arsenal’s 2-1 win over Cardiff on Tuesday night, Emery welcomed the signing and explained how Suarez’s arrival will improve his side.
He said after the game: “If a player can come here to help us, he will come. My focus has been on the match and I haven’t spoken to anyone.
“We need wingers. Suarez, who I know, he has these qualities.”
Asked if Suarez could cope with the physicality of the Premier League, Emery added: “I don’t know now. It’s a challenge for him and also to help us.