Lukaku, the Belgian striker who has played for several top clubs including Manchester United and Inter Milan, will join Tottenham Hotspur on loan from Everton.
The move is seen as a coup for Spurs, who have struggled in recent seasons and have been linked with a number of high-profile signings this summer.
Lukaku, who scored 26 goals in 41 appearances last season, will be expected to help bolster the team's attack, which has struggled at times this season.
The loan deal will also give him the opportunity to gain more experience and develop his skills ahead of next season.
Spurs manager Mauricio Pochettino said: "We're delighted to welcome Romelu Lukaku to our squad on loan from Everton. He's a world-class forward with a lot of potential, and we believe he can make a big difference to our team."
Lukaku himself expressed his excitement about the move, saying: "I'm really looking forward to playing for Spurs and helping them achieve their goals this season.
"I've always admired the club and the fans, so I'm excited to be part of it."