Los Blancos said in a statement that a deal had been reached with the Bundesliga side for Diomande, “who is tied to our club for the next seven seasons, until June 30, 2033.”
“Moving to Real Madrid is a childhood dream come true for me,” Diomande was quoted as saying in a Leipzig statement.
The young star said he was “incredibly grateful” to the German club which “placed their trust in me and gave me the opportunity to prove myself at the highest level.”
Madrid, who did not disclose the transfer fee, beat Paris Saint-Germain and Liverpool to the signing of Diomande, who played at the World Cup with his country.
PSG pulled out of the running because of concerns over the size of the transfer fee, while Liverpool reportedly had a bid rejected in June.
Diomande spent one season in the German top flight with Leipzig following a switch from Spanish side Leganes in 2025.
He was the Bundesliga young player of the season, netting 12 goals and laying on eight assists.
Diomande is Madrid’s sixth signing this summer, following Marc Cucurella, Bernardo Silva, Ibrahima Konate, Denzel Dumfries and Carlos Espi.
Madrid, who hired Portuguese veteran Jose Mourinho as coach for a second spell to replace Alvaro Arbeloa, are overhauling their squad after going two consecutive seasons without a major trophy.
Los Blancos have also been linked with a move for Manchester City and Spain midfielder Rodri. (AFP)