Talks are ongoing over a loan move with an option to buy.
According to Sky Sports, discussions will centre on the portion of wage payment and possible compensation should Barcelona not take up the option to buy.
Rashford publicly said he would like to play for Barcelona earlier this summer.
When asked by a Spanish influencer if he would like to play alongside Lamine Yamal, Rashford said: “Yes, for sure. Everyone wants to play with the best. Hopefully… we’ll see.”
Rashford’s potential move is understood to have been given the green light by head coach Hansi Flick after he spoke with the player.
It’s thought Liverpool forward Luis Diaz was a priority target, but Barcelona’s advances were rejected earlier in the window.