Chelsea have confirmed the signing of Brazil international Oscar after a drawn-out transfer process.
The European champions, who are on a pre-season tour in the USA, have not revealed any details of the deal that sees the 20-year-old move from Internacional.
But Chelsea have announced the transfer, which has been reported as being worth £25million, at a time when Oscar is currently in England with the Brazil Olympic squad.
A statement on Chelsea's official website read: "Chelsea football club is delighted to announce the signing of Oscar."
Tottenham had also been linked with the playmaker, but Chelsea emerged as favourites and Oscar said it would be ideal to move to Stamford Bridge as an Olympic champion.
"If I go to Chelsea it will be a dream come true," he revealed earlier this week.
"They are one of the greatest teams in Europe. I am confident I will have a good Olympics and, if I go to Chelsea, I will arrive feeling good."
The deal continues a busy summer for Chelsea, who are targeting the Premier League title under Roberto Di Matteo after last season winning the UEFA Champions League and the FA Cup.
Eden Hazard and Marko Marin have already arrived in West London and Oscar's signing takes Chelsea's summer spending to more than £50m.