Neymar will stay with Barcelona after signing a five-year contract, the club have announced.
The Brazilian’s release clause has been set at 200m euros (£167m), rising to 222m (£186m) in the second and 250m (£209m) for the final three.
Manchester United and Paris St-Germain were both reported to be interested in the 24-year-old.
Neymar has scored 55 goals in 93 La Liga games since joining from Santos for a reported fee of £48.6m in 2013.
On Thursday, Barcelona president Josep Bartomeu confirmed talks were being held, with Neymar declaring on Twitter he was “very happy to continue living this dream”.
The forward has also scored 46 goals in 70 appearances for his country.
Since moving to the Nou Camp, he has won two La Liga titles, two Copa del Rey trophies and the 2014-15 Champions League.
Barcelona were forced to pay a £4.3m fine in June because of mistakes in Neymar’s transfer from Santos.