The Blues had made the Colombian their major target for the January window and have been thrashing out a deal for his signature over the course of the past few days.
And now it’s reported that the Londoners have settled on a fee of £26.8m with the Italian side, with Cuadrado having completed the formalities.
A 5% sell-on fee has also been paid to the winger’s former club Independiente Medellin thanks to a clause in the deal that brought him to Europe.
Cuadrado bid farewell to his team-mates in Florence over the weekend before jetting to London, and also posted a heartfelt message to La Viola fans on Instagram (below).
Fiorentina are expected to announce the arrival of Mohamed Salah, as a part of the agreement, on loan soon.
Andre Schurrle is also edging towards the Stamford Bridge exit door, with Wolfsburg thrashing out a deal for the Germany international.
— MailOnline Sport (@MailSport) February 2, 2015