According to James McClain of Dirt.com (h/t The Hollywood Reporter), Johnson bought the 17,630-square-foot home from actor Paul Reiser for $27.8 million.
The home is located in a gated community in the North Beverly Park area of Los Angeles, which is home to some of the biggest stars in entertainment.
Johnson will reportedly be neighbors with the likes of Denzel Washington, Sylvester Stallone, Rod Stewart, Eddie Murphy and Sofía Vergara.
The Rock's new dwelling is complete with six bedrooms and 11.5 bathrooms. It also features a baseball diamond, a tennis court and "a world-class gym," the latter of which the health-conscious Johnson will undoubtedly get plenty of use from.
Per McClain, the mansion was originally built by rock star Alex Van Halen in 1993 before it was sold to Reiser. It was reportedly put up for sale briefly earlier this year at a price of $30 million.
In addition to his new home in L.A., The Rock also owns a 14,791-square-foot home in Powder Springs, Georgia, which he purchased for $9.5 million.
That home was put on the market for $7.5 million earlier this year, however.
The 48-year-old Johnson is one of the biggest movie stars in the world, although he first rose to stardom in the world of professional wrestling as a WWE Superstar.
Johnson competed in WWE from 1996 to 2004 and later returned in 2011 for a run that included two WrestleMania matches against John Cena.
In addition to being a wrestling legend, Johnson is now a Hollywood mainstay known for his roles in the Fast & Furious franchise, as well as a bevy of other action films.
Listen to Ring Rust Radio for all of the hot wrestling topics. Catch the latest episode in the player below (warning: some language NSFW).