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The Argentine joins on an initial loan until the end of 2025 with a purchase option worth €15 million for a deal that extends until 2029.
Despite not being an obligatory buy-out clause, Miami are expected to trigger it, provided the length of the contract.
De Paul’s future at Atletico was up in the air for some time, and the arrival of new midfielders, including Johnny Cardoso, Alex Baena and Thiago Almada, as part of the summer overhaul has led to his exit.
The 31-year-old has been a vital cog for the Spanish giants since his move from Udinese, registering 14 goals and 27 assists in 187 appearances.
While Diego Simeone’s side would miss a player of De Paul’s calibre and experience, Miami are adding a world-class midfielder to their ranks.
De Paul will link up with his long-time friend Lionel Messi, with whom he played a pivotal role in Argentina’s World Cup victory in 2022 and the Copa America titles in 2021 and 2024.
The move will also reunite De Paul with his former Atletico teammate Luis Suarez, who has been in sublime form for Miami this season.
The former Udinese star will bolster the midfield unit, which features Sergio Busquets, Federico Redondo, Telasco Segovia, and Benjamin Cremaschi.
De Paul’s signing has further fuelled the exit speculation on Busquets, whose deal expires in December.
The Spaniard is one of the three Designated Players at Miami alongside Messi and Jordi Alba, but could lose his spot to De Paul next year.
De Paul will be aiming to form a great partnership with Messi and make a significant impact to help the Herons compete for major silverware.