The Chilean striker had already agreed a £3.5 million move to Old Trafford and passed a medical but the deal was held up as United waited to discover if he would be able to move to Manchester straight away or if they would have to loan him to a foreign club until he was allowed to ply his trade in England.
Henriquez will play his final game for Universidad de Chile against Santos on Wednesday and is then set to link up with his new team-mates.
The 18-year-old striker has scored 11 goals in 17 games for Universidad and has 14 goals in nine games for Chile's Under-20 side.
Last week Henriquez's brother Cesar said United had been watching him for two years since he played in the Nike Manchester Cup for Universidad's youth team.
He will become Sir Alex Ferguson's fifth summer signing after Nick Powell, Shinji Kagawa, Robin van Persie and Alexander Buttner.
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