"Nicolas is indeed transferred to Dinamo. The operation is completely closed," Sebastian Taborda, the player's agent, told the newspaper 'Sport24'.
Marichal, 21 years old and an international with his country, is considered one of the most promising defenders in Latin American football.
Although the amount of the transfer fee is not officially known, press reports say that the Russian club has had to pay four million euros.
Dinamo's new Serbian coach, Slavisa Jokanovic, asked for defensive reinforcements as soon as he arrived, precipitating the arrival of Paraguayan Roberto Fernandez, who has performed impressively at the start of the Russian league season.
The Russian club negotiated for several weeks with Monterrey for the signing of Mexican defender Cesar Montes, but the high demands brought the deal to a halt, according to the Aztec press.
Lev Yashin's legendary side, ranked third last season, drew at home to Nizhny Novgorod on Saturday after beating Spanish coach Guillermo Abascal's Spartak Moscow last week.
Dynamo are currently in fifth place, three points behind leaders Spartak, although Zenit, who are in second place, have a game in hand.