"The player will be unveiled on Thursday the July 20, at 1pm, in the presidential box at the Santiago Bernabeu".
The 20-year-old was voted player of the tournament at last month's European Under-21 Championship as Spain finished runners-up to Germany.More news: APC mourns Akande's wife
Ceballos underwent a medical with Real earlier this week and the club have confirmed that he has signed a six-year contract that promises to keep him at the Bernabeu until 2023.
Ceballos joins Theo Hernandez, Jesus Vallejo, Marcos Llorente and Borja Mayoral as new additions to Zinedine Zidane's Madrid squad this summer.
He will then head to the United States to join his new team-mates on their pre-season tour.More news: Suspicious powder recovered from UP assembly, Yogi Adityanath seeks NIA probe
Madrid made an offer of €17 million to Betis, which was more than their €15m demand, in order to eliminate any chance of their arch-rivals signing the young footballer.
Real's signing of Ceballos follows the departure of midfielder James Rodriguez to Bayern Munich on loan this week.More news: OPEC Can Absorb 'Orderly' Oil Recovery From Libya, Nigeria, Iran
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