Javier Mascherano will leave Barcelona after seven and a half seasons at Camp Nou, the Catalan club confirmed.

The Argentinean international is believed to be on the verge of a reported €10 million ($15.4 million) switch to Hebei China Fortune ahead of the 2018 Chinese Super League season, allowing him to continue his career after a frustrating time under Ernesto Valverde, who has not favoured the defensive hard man.

Barcelona announced it will give the 33 year-old an "institutional farewell" on Thursday (AEDT), with president Josep Maria Bartomeu and the first-team squad attending.

Mascherano joined Barca from Liverpool in 2010 and made 334 appearances, winning 18 titles during one of the most successful eras in the club's history.

Lionel Messi, Phillip Cocu and Dani Alves are the only three foreign players to have made more Barca appearances than Mascherano, who transitioned to centre-back having joined the club as a midfielder.