Palermo have snapped up Uruguayan striker Edinson Cavani from Danubio Montevideo.
Cavani also attracted interest from Juventus, but Cavani was impressed by Palermo and is now looking forward to fulfilling a lifelong ambition.
"I am very proud about what Palermo have done for me," he said.
"I am really happy to play in Italy. It is a dream come true."
Meanwhile, Palermo have signed Guillermo Giacomazzi from Lecce in exchange for fellow midfielder Gianni Munari.