Morata has signed a five-year contract with the Premier League champions and will now fly out to Asia to join up with his new team-mates.
He becomes Chelsea's most expensive signing, with the transfer fee surpassing the £49.73m they paid Liverpool for Fernando Torres in 2011.
Upon signing for the club, the 24-year-old said that he joined because he was eager to win trophies.
“I am so happy to be here,” he told the club website.
“It’s an incredible emotion to be part of this big club. I am looking to work hard, score as many goals as I can and to win as many trophies as possible.”
‘Alvaro has proven class at the highest level and his quality will be a huge asset to Antonio and the squad.’
A regular for Spain, the 24-year-old has scored nine goals in 20 appearances - including three at last year’s European Championships.
Morata made his debut for Real Madrid shortly after his 18th birthday having impressed for their youth teams and began to feature regularly during the 2012/13 campaign.
- He provided a fine assist for Karim Benzema in an El Clasico victory that season, as well as scoring his first goal for the club - a winner at Levante.
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