Premier League - Sunderland agree Henderson fee
The England international, 20, will head to Anfield on Wednesday to have a medical and discuss personal terms.
A statement from Sunderland said: "A fee has been agreed with Liverpool for Jordan Henderson and he travels to Anfield today with the club's blessing."
It is understood the deal is worth in the region of £20 million, while it is thought French striker David Ngog could travel in the opposite direction.
Sunderland have repeatedly stated that the player was not for sale, but Liverpool's cash has persuaded them to part company with Henderson, who will head to Denmark later this week to link up with the England Under-21 squad for the European Championships.
Sunderland chairman Niall Quinn said: "Jordan is a credit to himself, his family and Sunderland's academy and everyone here wishes him the very best for the future.
"I am pleased that we got the deal to a level that we felt was right for our club. We know the areas that need strengthening and the type of player we need in order to progress and the job of bringing those players to the club is continuing at a pace."