Suarez signed a two-year deal with the Porto Alegre-based side in December 2022, but coach Renato Gaucho announced that the 36-year-old will be leaving after just 12 months of that arrangement when Brazil's Serie A season concludes next month.
And according to ESPN, Suarez has now agreed a one-year contract with Inter Miami, with the option of a second season.
With a verbal agreement reportedly in place, Suarez is expected to put pen to paper on a move to Miami soon.
The Uruguay legend was strongly linked with a move to Miami after leaving Nacional in his homeland, but ultimately signed for Gremio instead.
A move to Miami would see him link up with former Barcelona team-mates Lionel Messi, Sergio Busquets and Jordi Alba - as well as ex-Barça coach Gerardo Martino.
Martino recently confirmed Inter Miami's interest in signing Suarez.
"Within our analysis of the upcoming season, and the needs we may have, we have an analysis with Luis and an analysis without Luis," the Argentine said.
"When the moment arrives to make Suárez's situation with respect to Inter Miami official, we'll be prepared to go in the corresponding direction."
More Inter Miami stories
Sergi Roberto is the latest Barcelona player to be linked with the growing Blaugrana contingent at Inter Miami.
Inter Miami failed to qualify for the MLS play-offs, but the Florida outfit are heading to China on tour this month.
Lionel Messi earns how much? The Argentine's salary at Inter Miami revealed.
Thank you for reading 5 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1