Chelsea have announced that midfielder Oscar has agreed to join Chinese Super League club Shanghai SIPG.
The deal is believed to be worth around £52m and the player is expected to earn £400k a week at his new club.
A statement released by the club on Friday morning read: "Chelsea Football Club and Shanghai SIPG have agreed terms for the permanent transfer of Oscar.
"The 25-year-old will join the Chinese Super League team at the beginning of the January transfer window. He has been a Chelsea player for four-and-a-half years, helping us lift the Premier League, League Cup and Europa League as well as scooping two Chelsea Goal of the Season awards after stunning strikes against Juventus in 2012, on his full debut, and QPR in 2014."
The statement added: "We thank Oscar for his wonderful service and wish him the very best of luck for the future."
Oscar becomes the most expensive signing in Chinese football, and his fee exceeds the £50m that Chelsea received for the sale of David Luiz to Paris Saint-Germain.
Jamie Carragher last week branded Oscar's move to China as "embarrassing".
"This is not a move to further his career," Carragher wrote in his Daily Mail column. "He will talk about the league growing in China, the chance to work with Andre Villas-Boas and the excitement about a new adventure — but we all know those words will be nonsense.
"He has gone for the size of the contract. Nothing else. Players used to look for a pay day in their mid-thirties when their career was coming to an end. We all understood that."
Carragher continued: "It is embarrassing that a player would give up his career and the chance to compete for the biggest prizes in the game just for money."