The Blues have already brought in Mykhailo Mudryk for £88.5m, Benoit Badiashile for £35m while David Datro Fofana and Andrey Santos were signed for undisclosed fees and Joao Felix arrived on loan from Atletico Madrid.
Chelsea, who are under new ownership since Todd Boehly took control from Roman Abramovich in the summer, also spent around £280m on new players before the 2022-23 campaign started, with their total spending now at £468.6m.
Madueke has penned a seven-and-a-half year contract with the Blues and upon completing that transfer said: ‘I’m really pleased to sign with one of the best clubs in the world in Chelsea.
‘To return to England and play in the Premier League is a dream for me and my family and I can’t wait to get started.
‘I am excited for what the future holds, the owner’s vision for the future and to be at a club like this and winning at the highest level.’
Boehly and co-controlling owner Behdad Eghbali added: ‘We’re delighted to bring Noni to Chelsea. We are sure he will form an important part of our team.
‘He’s an exciting talent who has proven his quality over the past few years with PSV, playing in a strong European league, and we are thrilled he has chosen to join Chelsea for this next stage of his career.’
Their latest signing has made just nine appearances for PSV this season due to suffering a severe ankle injury during pre-season training in July.
The 20-year-old primarily plays on the right wing and has scored 20 goals in 80 appearances during his time at the Dutch club.
Madueke, who was born in Barnet, started his career with Crystal Palace’s academy before he joined Tottenham in 2014.
He went on to spend four years at Tottenham before signing his first professional contract with PSV in 2018, despite receiving offers from Chelsea and Manchester United.
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