Barca have inserted a buy-back option for the Colombian global, who caught the eye after a series of impressive performances at the Russia World Cup.
He had been heavily linked with a move to Jose Mourinho's Manchester United during their hunt for a centre-back, but instead opted for a switch to Goodison Park.
The 25-year-old, who has won 14 caps for his country since 2014, links up with new Toffees boss Marco Silva at Goodison Park to become their fourth signing of the summer, and will wear number 20 for the club.
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He said: "I chose Everton because of all the things I had heard about Marco Silva and after speaking to him I was happy with what he said to me". He has achieved really good things at other clubs.
Yerry Mina and André Gomes posed together in Everton shirts after arriving in Liverpool. This is a great opportunity for me and I am looking forward to competing here.
"I don't know anything at the moment but if he were to come here he would be very welcome and he would help the team a great deal".
The La Liga champions confirmed Mina's move for a fee of around £27 million, saying they had an option to buy him back.
'I have watched the Premier League for a long time.