Palermo midfielder Javier Pastore has signed a five-year deal with Ligue 1 side Paris Saint-Germain.
PSG have reportedly paid the Italian side a French record £37m to make the Argentine, 22, their eighth signing of the summer.
Boosted by funds from the Qatar Investment Authority, PSG have already spent around £73.6m this summer.
Pastore, who was linked with Chelsea, said: "I want to be a part of PSG, a great club with a great history."
Pastore played 35 matches for Palermo last season, scoring 11 goals.
The Qatar Investment Authority bought a controlling stake in the club in May.
Former Liverpool midfielder Mohamed Sissoko and Kevin Gameiro, who scored 22 league goals for fellow Ligue 1 side Lorient last season, have also moved to the French capital this summer.
But the Argentina international's move from the Italian Serie A side is PSG's highest-profile acquisition in their bid for a first league title since 1994.
Pastore began his career with Talleres and then Huracan in Argentina, before moving to Palermo in 2009.
Pastore has won nine caps for Argentina and played in the recent Copa America, where Argentina lost to Uruguay in the quarter-finals.
PSG's previous record transfer was the £20m they paid Real Madrid for Nicolas Anelka in 2000.
They finished fourth in Ligue 1 last season and will be playing in the Europa League this term.