The Argentine has enjoyed a trophy-laden spell at Camp Nou since arriving from Liverpool in 2010.
However, the 33-year-old has struggled for game time this season, making just seven LaLiga appearances in 2017-18, and will complete his move to China on 26 January.
Mascherano has been a key member of a number of all-conquering Barca sides, and has made over 330 appearances for the club.
Barcelona are holding a farewell press conference to the star on Wednesday, as they look to commemorate his 10 years of service at Camp Nou.
Mascherano is due to say farewell to the Barca fans at Thursday's Copa del Rey quarter-final second leg with Espanyol at Camp Nou.