Griezmann the third highest ever transfer fee
France forward Antoine Griezmann will join Barcelona from Atletico Madrid after the Catalan club announced they had paid his e120 million buyout fee.
The 28-year-old will sign a five-year contract which ties him to Barca until June 30, 2024.
Griezmann's new contract contains a buyout clause of e800m, the Spanish champions added in a statement.
"With his arrival at FC Barcelona, the Frenchman takes another step forward in his career with the goal of consolidating his place as one of the best players in the world," the Spanish league champions said in a statement.
Griezmann had announced in May he would be leaving Atletico Madrid after spending five seasons in the Spanish capital.
Barcelona have long been linked with a move for the 2018 World Cup winner.
Last month Atletico Madrid chief executive Miguel Angel Gil Marin revealed he had known about the impending transfer since March.
Griezmann moved to Atleti from Real Sociedad in 2014 and helped the club win the Europa League in 2018, scoring twice in the final against Marseille.
He joined Sociedad at the age of 14 and made his debut for the San Sebastian side aged 18.
As well as his World Cup success with France, he is also a Champions League and European Championship runner-up after Atletico and France fell at the final hurdle in those respective competitions in 2016.
Atleti later released a statement in which they said the sum received for Griezmann was "insufficient", arguing that the deal had effectively been done before the player's buyout clause dropped from 200m euros to 120m on July 1.
The Madrid club added they had "started procedures" to ensure they receive the amount they feel is owed to them.
The top 10 transfer fees
1 Neymar: Barcelona to Paris St Germain, 2017, £200.6million
2 Kylian Mbappe: Monaco to Paris St Germain, 2017, £128m
3 Antoine Griezmann: Atletico Madrid to Barcelona, 2019, £107.6m
4 Philippe Coutinho: Liverpool to Barcelona, 2018, £106.4m
5 Cristiano Ronaldo: Real Madrid to Juventus, 2018, £99.2m
6 Ousmane Dembele: Borussia Dortmund to Barcelona, 2017, £96.8m
7 Paul Pogba: Juventus to Manchester United, 2016, £89m
8 Gareth Bale: Tottenham to Real Madrid, 2013, £85.3m
9 Cristiano Ronaldo: Manchester United to Real Madrid, 2009, £80m
10 Gonzalo Higuain: Napoli to Juventus, 2016, £75.3m