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The clip was shared online by Neftali Martin (@neftabarber), who is currently undergoing cancer treatment.
Also a barber himself, Neftali had gone to get his hair shaved by his colleague Joel, with hair loss being a common side effect of chemotherapy.
Neftali had set up a camera to capture the moment he said goodbye to his hair at the barber shop in Alicante, Spain, and looked visibly upset as his co-worker began to shave his head.
Immediately after cutting off all of Neftali's hair, Joel suddenly turned the clippers on his own head, removing his bleached-blond locks.
Neftali then started welling up, clearly overwhelmed by the incredible act of compassion.
After shaving his own head, Joel came over to his friend to comfort him, before using a hairdryer to blow off any excess hair from the both of them.
Neftali shared the video on TikTok, where it soon went viral - racking up more than nine million views, two million likes and 26,000 comments.
He then posted the clip on Instagram, also explaining a little more about what happened.
He wrote: "'You are not alone' - those were the words of my great friend and co-worker immediately after he shaved his head, telling me that until my hair grew back, he was going to continue shaving with me.
"For those who do not know him @imjooeel is not just a co-worker, he is like a brother to me. I love you bro."
Many people commented on the post to say how much 'respect' they had for the two friends, who work at Lords and Barbers in Elche, and how 'beautiful' the footage was.
One person wrote: "This is so special and meaningful. You rock big time."
Another said: "You aren't not a barber anymore, you are a hero."
A third added: "This is so beautiful."
Another said Joel was 'amazing', while one other Instagrammer commented: "HUGE HUGE RESPECT BUDDY."
The Lords and Barbers account also shared the footage, saying: "We want to travel this path with you, together as we have always been. We want to show you what true friendship is, because we are all one.
"For the moments that we have passed and those that we have left to live. What the barber shop unites, let no one separate it."
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