The Spanish giants announced on Monday morning that Coutinho will head to Bayern on a season-long loan.
Bayern – who also have an option to make the deal permanent next summer – will pay Coutinho’s wages in full.
The Bundesliga champions have paid an £7.8m (€8.5m) loan fee for Coutinho, 27.
Should Bayern want to make the deal permanent, they’ll have to cough up £110m (€120m) next summer.
Barcelona’s statement on Coutinho’s exit read: “FC Barcelona and Bayern Munich have reached an agreement for the loan of the player Philippe Coutinho to the German club for the 2019/20 season.
“Bayern Munich will pay 8.5 million euros and the player’s wages.
“The agreement also sees an option to buy for Bayern fixed at 120 million euros.
“FC Barcelona would like to thank to publicly thank Philippe Coutinho for his commitment and dedication wishes him all the best in this new stage of his career.”
Coutinho, who will wear the No 10 shirt at Bayern, struggled to impress at Barcelona after quitting Liverpool in January 2018.
The playmaker failed to find form and has been given a fresh start in the Bundesliga.
And Coutinho has revealed he’s delighted to join Bayern after a torrid spell in La Liga.
He said: “For me, this change is a new challenge in a new country with one of the best clubs in Europe and I’m really looking forward to that.”
Bayern sporting director Hasan Salihamidzic added: “Coutinho made it very clear during our talks in Barcelona that he was adamant about moving to FC Bayern.
“He is a world-class footballer with outstanding technical ability and is a versatile attacking option.”
Coutinho could make his Bayern debut on Saturday against Schalke in the Bundesliga.