The 28-year-old striker, capped four times by England, has signed a four-year deal with the Magpies ahead of the new Premier League season.
Wilson spent six seasons with the Cherries and scored 67 goals in 187 appearances, but he was unable to prevent them from being relegated into the Championship at the end of the 2019-2020 campaign.
New season targets for @CallumWilson 👊⚽️— Newcastle United FC (@NUFC) September 7, 2020
🗣 "I didn't have the greatest season last year. Eight goals in the league is not something I'd even like to associate myself with so I'll be looking to get to double figures as soon as possible."
Aston Villa was heavily linked with Wilson, who has previously been of interest to Chelsea too.
"From the minute I knew that Newcastle were interested, it was definitely something that appealed to me," he said in quotes published on Newcastle's website.
"It's a massive club with great history. Along the years, they've had great strikers so if I can emulate half of what they've done, I'd like to attempt that.
"I believe in my ability as a player. As a striker I think it's important to set yourself goals long term and short term, and I'm hoping to achieve them.
"With the players around me, I believe we can get the goals we need as team and I want to help contribute to that."
Newcastle broke their transfer record to bring Joelinton to the club in a £40m deal last year, though the Brazilian endured a disappointing debut campaign in the north east, scoring just twice in 38 Premier League games.
Manager Steve Bruce is delighted that Wilson has been added to his attacking options as his team look to improve on their 13th-placed finish last season.
"Callum is somebody I've admired for a long time and I'm delighted to get him," Bruce said.
"He has done fantastically well at Bournemouth and was deservedly playing centre forward for England less than two years ago.
"The club has worked ever so hard to get Callum here and we have beaten off competition from a number of clubs."