The announcement of the signing of the 28-year-old, who has won the Champions League twice with Bayern, comes a day after Zinedine Zidane quit as Real coach.

"Real Madrid has reached an agreement with David Alaba, who will be linked to the club for the next five seasons," Madrid said in a statement.

Alaba will be presented as a Real player after Euro 2020, the statement added.

The Austria international has been hugely successful at Bayern, having won two Champions League trophies and 10 league titles among other silverware.

Alaba had said in February that he would leave Bayern when his contract expires at the end of the season after 13 years with the German club.

Alaba and Bayern were in talks about a new contract but the club said in November 2020 that the negotiations had broken down, reportedly over the player's salary.