The La Liga champions' new deal is reported to be the biggest in world football, worth more than even Manchester United's £75m per year deal with Adidas.
The two parties announced a "long-term" extension of their existing partnership which stretches back to 1998, describing the new deal as a "landmark in global football".
Full details of the agreement will be revealed and ratified at the club's next general assembly.
"Through this new agreement with Nike we are extending a strategic alliance for the club, while also reinforcing our global position, hand in hand with the leading global sports brand," said Barcelona president Josep Bartomeu.
"We are excited by this new agreement and are confident that we'll be able to celebrate continued sporting success together."
Nike president Trevor Edwards added: "FC Barcelona is one of football's greatest clubs, inspiring millions of sports fans across the globe, and we are extremely proud to continue our partnership together.
"Our deep relationship with FC Barcelona extends Nike's leadership position in football and we are excited by the opportunity to further grow the world's most global sport."