Endrick, 16, will join Madrid when he turns 18 in July 2024, following the path from Brazil to the Spanish capital previously taken by Vinicius Jr. and Rodrygo Goes.
Palmeiras have said the figures involved in the deal will remain "confidential," but various reports place the total fee, including possible add-ons, anywhere betweem €40 million and €60m.
"Real Madrid C. F., Sociedade Esportiva Palmeiras, Endrick and his family have reached an agreement for the player to join Real Madrid when he turns 18 in July 2024," Los Blancos announced Thursday.
"Until then, Endrick will continue his development with S.E Palmeiras. The player will come to Madrid in the coming days to visit the club's facilities."