Chelsea have signed Ukraine striker Andriy Shevchenko from AC Milan for a club record fee, according to Reuters.
"I am here for the challenge and the excitement of playing in the Premier League," the 29-year-old told Chelsea`s official website after agreeing a four-year contract on Wednesday.
"I am going from one big club to another and joining a team of champions."
The precise fee was not disclosed but Shevchenko said it was the ideal moment to join the English champions.
"I think I have arrived here at the perfect time," he said. "The Champions League has to be a realistic target for next season but it is not just about the Champions League.
“Chelsea are going for their third Premiership as well and I like the club`s mentality of wanting to win every game they play."
Shevchenko announced last week that he was leaving the Italian club for family reasons.
According to media reports, his American wife Kristen asked her husband to move to London as she would prefer their son Jordan to grow up in an English-speaking country.
The capture of the 29-year-old Ukraine captain is Chelsea`s second coup of the close season, after the arrival of Germany skipper Michael Ballack on a free transfer from Bayern Munich.