The 30-year-old had been heavily linked with a move to Stamford
Bridge and he joins
Chelsea on a three-year deal.
He said: 'I am very excited to come to a club like Chelsea, it
is a big club and I think it is a dream for every player.
"Hopefully we will be successful."
Benayoun, who has moved for an undisclosed fee, first moved to
the Premier League in 2005 when he joined West Ham from Racing
Santander.
His excellent form for the Hammers, for whom he played in the
2006 FA Cup final, saw him secure a move to Anfield in the summer
of 2007.
He made 172 appearances for the Anfield club and scored 37
goals, including the header that gave the Merseysiders a 1-0 win at
the Bernabeu when they met Real Madrid in the last 16 of the
Champions League during the 2008-09 season.
Chelsea manager Carlo Ancelotti hopes the addition of Benayoun
will help his side retain the Premier League title and finally
secure Champions League glory.
The Italian said: "We are happy to have this new player.
"Yossi has a lot of quality in midfield and can play in lots of
positions. I like his behaviour on the pitch and he will do a great
job for us next season."
A Liverpool spokesman,
confirming the move on the club website, said: "Yossi's departure
was agreed between the player and [former manager] Rafael Benitez a
number of weeks ago.
"Everybody at Liverpool FC wishes him well for the future."