The England international will be unveiled to Real Madrid fans this Thursday.
At just 19 years of age, Bellingham had already established himself among the most sought-after players in football, with Manchester United, Manchester City, Liverpool and Paris Saint-Germain (PSG) among his admirers.
But he has chosen to join 14-time European champions Madrid on a six-year contract.
″Thank you everyone associated with BVB and the fans for everything over the last three years,” Bellingham said in a statement on Dortmund’s website: “It was an honour to wear your jersey so many times whether it was in the high or low moments.
“While I’m happy about my next destination I will never forget the journey I went on to get there.″
The Spanish giants will reportedly pay €103 million for the 19-year-old, in addition to various potential add-ons.
If those add-ons are achieved, the deal could reach €133.9 million.
Real Madrid will also be looking to sign a striker after Karim Benzema left the club for Saudi side Al-Ittihad. With news that Kylian Mbappé will not be extending his contract with PSG, it could be third time lucky for the Spanish to sign the French forward.
