Liverpool have turned their focus onto the transfer window following Saturday’s Champions League final defeat to Real Madrid.
And the Reds have settled on Brazilian Fabinho after 12 months of talks with Monaco.
“I am really excited about this move,” he said.
“This is something that I always wanted – this is a giant of a team. The infrastructures of the club look exceptional.
“A football club of this size coming after my services, I didn’t have to think that much about coming over.
“I will try to create my own history at this football club. Hopefully, on a personal level, I’m able to win titles with this club.
“I will try to grow and learn and improve myself, and to be part of the club’s history.”
Fabinho, 24, played 45 games for Monaco this season as they finished second in Ligue 1 behind PSG.
He will bolster Jurgen Klopp’s central-midfield ranks, with Liverpool seeing him as the ideal replacement for Emre Can.
Germany international Can is set to leave the club with his contract due to expire next month and Juventus is his expected destination.
The Reds have been working quietly on a deal for Fabinho, who also attracted interest from Atletico Madrid, Paris Saint-Germain and Manchester United.
Monaco had strived to keep their star man, knowing Thomas Lemar could also leave the club if a sizeable offer comes in.
They also lost Kylian Mbappe, Tiemoue Bakayoko, Benjamin Mendy and Guido Carrillo last summer.
But Liverpool, who themselves were keen on Lemar last summer, have finally got the deal over the line.
Fabinho is the second signing agreed by the Reds this summer, following Naby Keita to Merseyside.
Liverpool triggered Keita’s release clause last year and will sign the winger from RB Leipzig.
As for Fabinho, the Anfield club will pay £39.9m up front for the player, with the rest due in performance-related instalments.