The NBA's King is officially going Hollywood.

The Los Angeles Lakers announced that they have inked LeBron James to a multiyear deal on Monday. James' agency, Klutch Sports, previously revealed that the contract was worth $154 million over four years. It reportedly includes a player option in year four.

"Today is a great day for the Lakers organization and Lakers fans all over the world to welcome LeBron James, a three-time NBA Champion and four-time NBA MVP," said Lakers President of Basketball Operations Earvin "Magic" Johnson in an official statement.

"LeBron is special. He is the best player in the world. He loves to compete and is an awesome leader who is about winning and making sure that his teammates are successful. The Lakers players are excited to have a teammate who has been to nine NBA Finals. It's a huge step closer to returning the Lakers to the playoffs and to the NBA Finals."

James - who will continue to wear No. 23 in Los Angeles - has been in the Finals each of the last eight years coming out of the Eastern Conference, capturing three championships along the way with both the Cleveland Cavaliers and Miami Heat. He played in all 82 games this past season for the first time in his career, averaging 27.5 points on 54.2 percent shooting, 8.6 rebounds, 9.1 assists, 1.4 steals, and 0.9 blocks in 36.9 minutes.

The 14-time All-Star joins a team which won just 35 games in 2017-18, and hasn't qualified for the playoffs since 2013. Management has added some fresh faces to the fold outside of James this summer, bringing on the likes of Rajon Rondo, JaVale McGee, and Lance Stephenson to a roster that already includes former No. 2 overall picks Brandon Ingram and Lonzo Ball, as well as surprise standout Kyle Kuzma.

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While James reportedly isn't pressuring the organization to acquire another All-Star to play alongside him, the belief is that Kawhi Leonard will eventually make his way to the Lakers, whether it be via a trade from the San Antonio Spurs or in free agency next summer.