Raul de Tomas has completed his move from Real Madrid to Benfica, after both clubs agreed a deal for 20 million euros, Marca reports.
The forward has now signed a five-year contract with the Portuguese side, after they managed to negotiate down from the initial asking price of 35 million euros.
De Tomas arrived in the Portuguese capital on Monday to undergo his medical examinations, before finalising the move.
The 24-year-old leaves Spain after spells with Cordoba, Real Valladolid and Rayo Vallecano.
He becomes the third player to depart the Santiago Bernabeu this summer, after Marcos Llorente and Mateo Kovacic left for Atletico Madrid and Chelsea respectively.