Georginio Wijnaldum has put pen-to-paper on a five-year contract to complete a £25 million move from Newcastle United to Liverpool.
The Dutch attacking midfielder completed his medical on Merseyside on Friday and will fly out to join up with his new teammates on their pre-season tour of North America this weekend.
The Reds are believed to have sealed a deal worth an initial £23 million, with a further £2 million in add-ons related to appearances and the club's achievements.
After inking the long-term deal which is worth £75,000-a-week, Wijnaldum takes the vacant No.5 shirt, the same number he wore for Newcastle, last worn by fans' favourite Daniel Agger.
He becomes the seventh new arrival of the summer, with Alex Manninger and Ragnar Klavan's additions this week following the captures of Sadio Mane, Loris Karius, Joel Matip and Marko Grujic.
Although Jürgen Klopp had initially sought a controlling midfielder, his top targets - Udinese's Piotr Zielinski and Borussia Monchengladbach's Mahmoud Dahoud - proved too difficult to negotiate deals for.
However, Klopp is said to greatly admire Wijnaldum's work ethic - in addition to his technical abilities - and believes he can compete with the likes of Roberto Firmino, Adam Lallana, Philippe Coutinho and Sadio Mane for an attacking position behind the striker.
Wijnaldum, who can play on the left or the right as well as in the No.10 position, could also feature for the Reds deeper in central midfield - the position he commonly operates in for his country.
And he could make his debut as early as next Wednesday when Liverpool go head-to-head with Chelsea in the International Champions Cup in Pasadena, although a decision will first be made by the club's medical staff as to whether he is fit enough to feature.
Midfielder becomes Reds' third signing of the week
Wijnaldum scored 11 goals in 38 Premier League games, adding five assists, in his first year on Tyneside following a £14.5 million move from PSV Eindhoven.
One of those 11 strikes in the league came against Liverpool at St James' Park back in December in a 2-0 win for Newcastle, Wijnaldum also forcing the other goal which was officially credited as a Martin Skrtel own goal after a deflection.
But his contributions could not prevent the Magpies dropping into the Championship, where former Reds boss Rafael Benitez will look to earn promotion back to the top tier at the first time of asking.
However, 2014-15 Dutch Footballer of the Year Wijnaldum wasn't keen on spending a season outside of the Premier League with Everton and Tottenham Hotspur also having shown interest in him.
But Liverpool won the race after they were told by the North East outfit that there would be no room for movement on their asking price earlier this week and Klopp and co. responded with a firm offer.
Though no players are included in the deal, despite reports having linked a number of Liverpool youngsters in part exchange, loan deals are a possibility in the near future due to the good relations between Benitez and Klopp.
The German has however been dealt a blow with the news that left-back target Ben Chilwell has had a U-turn at Leicester City and will sign a new five-year deal with the Premier League champions.
The Foxes are said to have put an improved offer on the table which sees the defender's wages rise £30,000-a-week to stave off interest from the England U20 international, who is now expected to agree to stay at the club.
The 19-year-old was already the subject of a £7 million bid, which was immediately rejected, with Leicester unwilling to sell for less than £10 million and the Reds put off by that price tag for a player who has yet to make his league debut.
Despite identifying Chilwell as his main left-back option back in January, Klopp will now have to recalibrate his sights if he remains keen on recruiting someone to challenge with Alberto Moreno.