It was made very clear to the Uruguayan forward earlier this summer that he was not in new Barcelona manager Ronald Koeman's plans for the future, and the Catalan giants are desperate to get his £400,000-a-week wages off their books.
It initially looked as though Serie A side Juventus would be Suarez's most likely destination, but it is believed that the 33-year-old would favour remaining in Spain if possible.
And according to Barcelona-based publication Mundo Deportivo this is looking increasingly likely, with Suarez having agreed a two-year contract with Atletico.
The deal is still not complete, with a number of issues still needing ironing out, including whether Atletico will pay a transfer fee and whether Barcelona will pay Suarez for the final year of his contract at the Nou Camp.
But there appears optimism from both parties that an agreement can be reached which would see Suarez continuing to ply his trade in La Liga in the forthcoming season.
If he does depart Suarez will no doubt be remembered as a legend at Barcelona for his contributions over the past six seasons.
He has become the club's third all time top goalscorer with a total of 198 goals in 283 games in all competitions, while he has also helped inspire his side to four La Liga titles, four Copa del Reys and a Champions League.
Barcelona have already lined up Suarez's prospective replacement, with Lyon star Memphis Depay reportedly Koeman's No.1 target.
However, there may be a late twist in the tale after Depay was handed the vacant No.10 shirt at Lyon, suggesting that the club are confident that he is set to stay.
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