Courtois was given the green light to leave Chelsea after the Blues found Athletic Bilbao keeper Kepa as his replacement
Real Madrid have signed Chelsea goalkeeper Thibaut Courtois on a six-year deal worth £38million.
The deal will also see Mateo Kovacic, 23, go the other way on a season-long loan.
Courtois was given the all-clear to leave Stamford Bridge after the Blues identified Athletic Bilbao stopper Kepa as his replacement.
The Premier League club confirmed the transfer on its official website, saying: “Chelsea and Real Madrid have tonight agreed terms for the permanent transfer of Thibaut Courtois subject to the agreement of personal terms and passing a medical.
“Subject to the completion of the deal Mateo Kovacic will join the Blues on a season-long loan.”
Meanwhile, Courtois’ medical will take place at 1pm in the honour box of the Bernabeu stadium.
A Real Madrid statement read: “Subsequently, Courtois will step on the turf of the Santiago Bernabeu for the first time wearing the Real Madrid CF shirt and will attend media in the press room.”
The Belgian went to extreme measure to make clear his desire to leave Stamford Bridge after skipping training and missing a meeting with new Blues manager Maurizio Sarri earlier this week.
Courtois signed for Chelsea in 2011 from Genk for an estimated fee of £8m.
He spent three seasons on loan at Real’s local rivals Atletico Madrid. The 26-year-old has previously stated Madrid is where his heart is as his children still live in the Spanish capital.
Croatian midfieldr Kovacic will be given the opportunity to showcase his talent in the Premier League as a result.
Kovacic has only started 37 league matches in the last three seasons for the LaLiga giants.