The deal for the 24-year-old is worth approximately £22.75 million, and the Uruguay international will now travel to Merseyside to discuss personal terms with the Premier League club.
"Liverpool Football Club announced this afternoon that they had agreed a fee of up to 26.5 million euros with Ajax for the transfer of Luis Suarez, subject to the completion of a medical," a club statement read.
"The club have now been given permission by Ajax to discuss personal terms with the player and his representatives."
Liverpool have been in negotiations with Ajax for some time and, with the last offer said to have been worth just half of Ajax's desired £25.75m, it was believed the talks may have reached an impasse.
Ajax had set a deadline of Saturday for the deal to be concluded and coach Frank de Boer said he believed the deal had a "50-50 chance" of going through, but the move is now expected to be completed over the weekend.
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