The 28-year-old will be officially unveiled on Thursday, June 13 once he has undergone his medical.
In an official statement published on his social media pages, the Belgian, who penned a five-year deal, said: "To my Chelsea friends and family: You now know I will be joining Real Madrid". Subsequently, the English club will receive another €30 million as bonuses. I think it's time for a new challenge.
The Belgian will be presented by Real Madrid after the current global break and becomes their fourth signing for the new season after Luka Jovic, Rodrygo and Eder Militao. "I hope that we are drawn against each other in the Champions League next season and every season so we can meet again".
Real Madrid have further stated that Eden Hazard has agreed a five-year deal with the club.
Chelsea quickly moved to pay tribute to Hazard on confirming his departure, with his Blues career ending on 352 appearances and 110 goals.
Hazard scored 16 Premier League goals and provided 15 assists as Chelsea finished third in the standings, then providing a fitting swansong with two goals and an assist in the 4-1 win over Arsenal in the Europa League final.
The Belgium worldwide has been at the centre of transfer speculation for most of the last year as he prepared to enter the final year of his contract at Stamford Bridge.
So, Hazard, who transformed from a young talent to a world-class superstar at Chelsea, seems to have no doubts that the Barca captain is the world's best footballer.
Now that Hazard is a Real player, the biggest domestic battles he will face are the Clasico clashes against Barcelona, who cruised to yet another La Liga title in 2018-19.
Thibaut Courtois, Eden Hazard and Michy Batshuayi pose with the Premier League Trophy after the Premier League match between Chelsea and Sunderland at Stamford Bridge on May 21, 2017.