The Catalan club brought him back from Everton last summer for 12 million euros ($15 million) but the 23-year-old has failed to earn a place in Ernesto Valverde's side.
Barcelona signed Liverpool playmaker Philippe Coutinho earlier this month, leaving Deulofeu with even fewer playing opportunities.
"The agreement sees the English team cover his salary and a potential add on of one million euros," Barcelona said in a statement.
(Reporting by Rik Sharma, editing by Pritha Sarkar)
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