The move had been widely expected after the 23-year-old expressed a desire to quit Wolfsburg with the French champions just one of several clubs on his trail.

"We have had intense and constructive discussions with Julian Draxler and his management as well as with Paris Saint-Germain in recent days and finally achieved a very good result for all sides," Wolfsburg's head of sport Olaf Rebbe said in a statement.

The two sides agreed the financial details of the deal would remain confidential, Wolfsburg said.

"Of course I am sad to see Julian go, because he is an outstanding player," Wolfsburg's coach Valerien Ismael said in the same statement.

"On the other hand, I think this is the right move for everyone. In both recent games against Frankfurt and Gladbach he once again gave everything he had, and showed that he cares about our club. I hope he finds a new challenge in France."

Draxler cost Wolfsburg 35 million euros ($37.3m) when he transferred from Schalke in August 2015.

PSG director of football Patrick Kluivert has been on the lookout for reinforcements after a poor start to the campaign by their own standards which has left them in third place in Ligue 1 at the halfway stage, five points behind leaders Nice.