Arsenal signed Canada forward Olivia Smith from Liverpool in a deal worth a reported women's world record fee of £1 million on Thursday.
Smith has joined the Champions League holders on a lucrative four-year contract.
The 20-year-old's transfer surpassed the previous women's record set when Chelsea signed Naomi Girma from San Diego Wave for £900 000 in January.
"It's my dream to compete for the biggest titles here in England and in Europe and I'm excited to get started and contribute to doing that here with Arsenal," Smith said.
Smith moved to Liverpool from Portugal's Sporting for just £200 000 in 2024, scoring seven goals in 20 Women's Super League games.
Liverpool are understood to have accepted the record offer after rejecting several bids for Smith, who made her Canada debut aged 15 in 2019.
Arsenal head coach Renee Slegers said: "Olivia is an exciting young player and we believe she can make a big contribution here at Arsenal.
"We've been impressed by her mentality and character, excelling in two European leagues at such a young age."