"Angelo Henriquez will join Manchester United this month," said Universidad de Chile, the 2011 winners of the Copa Sudamericana, South America's equivalent of the Europa League.
The talented 18-year-old will join United for a fee of $5.5 million (?3.5m), after undergoing a medical in England this week, and will become the first Chilean ever to play for the Old Trafford club.
"The player is physically and mentally prepared to take this determining step in his career," added the selling club.
Henriquez first came to the attention of United when he was playing in the Chilean capital club's youth system.
"Manchester United's representatives told us that it was fundamental for them to take him now," said Jose Yuraszcek, president of 'La U'.
Henriquez made his Chilean league debut this year, scoring 10 goals in 15 games, while he also netted four times in this year's Libertadores Cup.