Atletico Madrid have reached an agreement to sign Rayo Vallecano striker Leo Baptistao for an undisclosed fee.
The 20-year-old Brazilian has signed a five-year contract and will complete his move to the Estadio Vicente Calderon when the transfer window opens on July 1.
Baptistao scored seven goals in 28 league appearances for Rayo in the 2012-13 campaign, playing his part as Atletico's city rivals secured eighth place in the Primera Division table.
A statement published on Rayo's official website read: "The club thanks Leo Baptistao for the professionalism and dedication he showed in the years he spent defending the Rayo shirt.
"We wish him the best of luck, both personally and professionally, for the next stage of his career."
The Santos-born forward becomes Atleti's second signing of the close season following the recruitment of 18-year-old Uruguayan defender Jose Maria Gimenez from Danubio.
Baptistao is currently recovering from the broken collarbone he suffered against Real Mallorca in April - an injury that ruled him out of the remaining six games of Rayo's season.
Atletico coach Diego Simeone must build on a third-placed finish while managing a Champions League campaign without the services of prolific striker Radamel Falcao.
The Colombian scored 32 goals in 37 appearances before joining ambitious Monaco for an estimated 50million euros last week, leaving Atletico searching for reinforcements to the forward line.