The 18-year-old, who has not played for Corinthians this season due to a contractual dispute, has previously been linked with Barcelona, Everton, Liverpool and Manchester City.
Granada have won the race to bring the Brazilian to European football, however, with the La Liga side believed to have agreed a deal in the region of £250,000 with the teenager's Brazilian outfit.
"I am very happy to join Granada," Emerson is quoted as saying by Marca. "I am in a big city and in a club that provides me with all the facilities that I need for me to continue to develop my career and keep growing."
Granada are currently 19th in La Liga, seven points behind 17th-placed Leganes with eight games of the 2016-17 campaign left to play in Spain's top flight.