Cameroon international goalkeeper Carlos Kameni has joined Malaga from Espanyol, the buying club announced on their website on Wednesday.
Malaga added that there will be a possibility to extend the two-and-a-half-year deal when it ends.
Kameni, 27, will be presented to Malaga's fans at the club's La Rosaleda stadium on Thursday.
On Saturday, Espanyol reported that Kameni was on his way to Malaga after over seven years with the club.
Espanyol's official website said it has reached agreement with Kameni to break his contract, adding that talks had begun earlier in the week prior to the cancellation of the Indomitable Lions' contract last Friday.
The highly-rated goalkeeper arrived at Espanyol in 2004, going on to make over 200 league appearances for the club.
During his time with the Barcelona-based side, Kameni won the Copa del Rey in 2006 when beating Real Zaragoza.
"Espanyol wishes its now ex-player the best of luck in his new stage of his professional career," the club website added.
Kameni has time to negotiate any move since Cameroon failed to reach this month's Africa Cup of Nations.
Espanyol currently lie eighth in La Liga, just one point behind sixth-placed Malaga, who have spent heavily in the transfer market after being taken over by Qatari owners in 2010.