Manchester United signed Brazil forward Matheus Cunha from Wolves in a deal worth a reported £62.5 million ($83 million) on Sunday.
Cunha is expected to pen a five-year contract with the Old Trafford club, who have the option of extending the deal by a further 12 months.
"Manchester United has reached agreement with Wolverhampton Wanderers for the signing of Matheus Cunha," a United statement said.
"Everyone at Manchester United looks forward to welcoming Matheus to Old Trafford."
The 26-year-old was in Manchester over the weekend to put the finishing touches to his move, which is subject to a visa and registration.
Cunha, who has won 13 caps for Brazil, scored 18 goals in all competitions for Wolves this season, winning the club's player of the year award.
The Brazilian finished his Wolves career with 33 goals in 92 appearances in all competitions after signing from Atletico Madrid in January 2023.
United activated the release clause in Cunha's Wolves contract to ensure he becomes boss Ruben Amorim's first signing of the summer transfer window.
Wolves said the deal was a club-record fee received as they thanked Cunha "for his contributions in old gold" in a statement confirming his departure.
Cunha will join up with Brazil ahead of Friday's World Cup qualifier against Ecuador, which will be Carlo Ancelotti's first game in charge of the Selecao.
Amorim's side lost the Europa League final against Tottenham to cap a dismal season featuring a 15th place finish in the Premier League that ranked as their lowest final position since 1973-74.
Cunha will add his predatory instincts and creative guile to a United attack that struggled throughout this season.
United's lack of cutting edge was evident yet again when they failed to find a solution to Tottenham's defensive tactics in the Europa League final.
Brentford forward Bryan Mbeumo has also been linked with United, whose transfer business has been made harder by their failure to qualify for the Champions League.
"We have a plan that is to bring some new players, of course, but our big plan is to improve the team that we have, it's to improve our academy because I think that is the future. It was the past, so it can be the future," Amorim said on United's recent post-season tour to Asia.
"It's not going to change so much because we have the fair play financial rules. We are not allowed to do much in this summer... so we are prepared for that."