The Colombian, who won the Premier League, FA Cup and League Cup during his time at Anfield, has signed a contract with the Bundesliga champions until 2029.

"In Luis Diaz, we have succeeded in bringing in one of the best left wingers in the Premier League," said Bayern CEO Jan-Christian Dreesen.

"He brings real player character from Liverpool to FC Bayern -- he's won silverware with every one of his clubs to date."

Diaz, 28, said he was "very happy" with the move to the German club.

"It means a lot to me to be part of FC Bayern," he said.  "They're one of the biggest clubs in the world. I want to help my new team with my way of playing football and my character.

"My goal is to win every possible title, and that's what we'll work for every day as a team."

Diaz made 50 appearances and scored 17 goals in all competitions last season as Arne Slot's team clinched the English title for the 20th time.

Diaz was left out of Liverpool's 4-2 friendly defeat against AC Milan in Hong Kong on Saturday as speculation mounted over his future.

Diaz's signing gives Bayern a quality replacement for Germany forward Jamal Musiala, who has been ruled out for a "long period" after he suffered a broken leg and dislocated ankle at the recent Club World Cup.