Juve announced the move on Twitter:
They also used Twitter to welcome the striker to the club on Saturday:
Juventus provided the details of Morata's contract on their website:
Juventus Football Club can today announce that Alvaro Morata has signed a five-year contract with the club after a fee of €20 million, to be paid over three years, was agreed with Real Madrid.
The deal includes the option for Real Madrid to reacquire the player’s registration rights at the end of the 2015/16 or 2016/17 campaigns, at predetermined values, up to a maximum of €30 million. These values will be based on the number of matches played by Morata in the relevant season.
Morata made just three starts in La Liga play this season while coming off the bench 20 times, scoring eight goals and earning a 6.67 average match rating from WhoScored.com. He also started once and came off of the bench three times in Champions League play, scoring a goal and earning a 6.73 mark on average.
The 21-year-old impressed for Real Madrid Castilla a season ago, scoring 11 goals in 12 matches.
He also made 10 starts for the Spain U-19 squad and 12 starts for the Spain U-21 team in his international career, and he's widely considered to be one of the most promising young Spanish attackers alongside his former teammates Isco and Jese Rodriguez and Barcelona's Cristian Tello (now loaned to Porto) and Gerard Deulofeu (who was on loan at Everton this past season).
However, with Karim Benzema as the incumbent striker and Cristiano Ronaldo also capable of moving centrally from his normal position on the left wing, opportunities have been hard to come by for Morata this season.
And while Morata did come off the bench quite frequently, his opportunities likely would have been less prevalent had Jese not gone down to injury in March. It was Jese who was earning more playing time before he was lost for the season, scoring five goals and adding four assists in 18 La Liga appearances.
With Morata earning less playing time in the first half of the season, he unsurprisingly hinted on Jan. 9 that he would be comfortable with a move away from Real Madrid if he ever became unhappy with his role, via John Drayton of the Daily Mail:
It's important to have a proper role in the team. I've been at Real Madrid my whole life and I've been a Real Madrid fan since I was a boy. I will be all my life but it's important to have an important role.
If the moment comes that I don't, I will look at other options. Staying at Real Madrid is complicated.
Playing five or 10 minutes is okay if you accept it. You have the chance to get on the pitch and try to change a game in a short space of time. Every minute in football is gold.
Like many of Spain's top prospects, Morata is a technically sound player. Watch any of his highlight films and you will be instantly impressed by his footwork and movement. But he is also proficient in the air and can finish with either foot; his finishing is what truly has people excited about his future prospects.