Hazard has agreed a five-year contract and will be presented as a Real player on 13 June, subject to a medical.

The Belgian scored 110 goals in 352 games for Chelsea after joining from Lille in 2012, and scored twice as they won the Europa League final last week.

"The memories he leaves us with will not fade," said Chelsea director Marina Granovskaia.

"He provided all who watched Chelsea play with great entertainment and many match-winning contributions, and for that we thank Eden enormously.

"He has been a model professional throughout his time at the club, a wonderful individual to have around and a joy to work with."

In seven seasons at Chelsea, Hazard won the Premier League and Europa League twice, the FA Cup and League Cup.

He was also named Chelsea's Player of the Year on four occasions.

"Although it is with sadness we say goodbye to Eden and we made it absolutely clear to him the club wished him to stay, we respect the decision he has made to take on a new challenge in a different country and follow his childhood dream of playing for Real Madrid," Granovskaia added.

Chelsea have been placed under a transfer ban by Fifa, meaning they will not be able to sign a replacement for Hazard.

The Blues are banned from signing players during the next two transfer windows until the end of January 2020. They failed with their first appeal to football's world governing body, and have taken their second to the Court of Arbitration for Sport. (BBC)