Jackson Martinez confirmed his time with FC Porto is over, announcing he will join Atletico Madrid on a four-year deal.
The striker made the announcement following Colombia's exit from the Copa America.
"I can confirm I am going to Atletico," Martinez told reporters after the loss to Argentina. "I am going there for four years but I still do not know when I will be introduced.
"I have had great progression, always learning, always growing and now I'm going to Atletico where I hope to help the team and continue to grow as a player."
Jackson appeared to be on the verge of a move to AC Milan after Porto president claimed a deal had been reached between them and the Italian club.
He was also connected with a move to Arsenal, but Martinez's agent confirmed his client will feature in La Liga next season for a fee believed to be worth €35 million.
Martinez, who leaves Porto after three seasons, scored 21 goals through 30 appearances during his final season in Liga Sagres.