The 21-year-old midfielder has agreed an eight-year contract at Stamford Bridge, with a club option of a further year, and joins from Premier League side Brighton and Hove Albion.
On completing his move to Chelsea, Caicedo said: ‘I am so happy to join Chelsea! I am so excited to be here at this big club and I didn’t have to think twice when Chelsea called me, I just knew I wanted to sign for the club. It’s a dream come true to be here and I can’t wait to get started with the team.
’Caicedo spent the first half of the 2021/22 campaign in Belgium and made 14 appearances for Beerschot before being recalled by Brighton.
On his return, Caicedo became a key part of the side.
Last season, Caicedo made 43 appearances for the Seagulls, who recorded their best-ever Premier League finish of sixth.
Caicedo was crucial to that success and was named the club’s Player of the Season and Players’ Player of the Season.
