The 32-year-old rejected the chance to return to Santos for a fourth spell and has instead decided to join the Belo Horizonte club in order to play in the Copa Libertadores
Atletico Mineiro have signed former Real Madrid and Manchester City attacker Robinho.
The 32-year-old had been linked to a return to Brazil since his short-term contract with Chinese club Guangzhou Evergrande expired at the start of February.
Atletico Mineiro had made no secret of their desire to sign the Brazil international as they look to enhance their squad for their upcoming Copa Libertadores campaign, though they had to compete with Robinho's former side Santos, who were keen to lure him back for a fourth spell with the club.
Galo told the ex-AC Milan player that he had until Friday to give them an answer on their offer, and Goal has learned that he turned down an offer of R$ 600,000 per month (€133,000) to rejoin Santos in order to accept the R$ 800,000 per month (€177,000) Atletico Mineiro had made weeks ago.
Part of Robinho's salary will be paid by Dryworld, a Canadian brand who sponsor the club and supply sports equipment.
Club president Daniel Nepomuceno, announced the deal on Thursday, confirming Robinho's move via Twitter, with Robinho joining on a two-year deal.
"Robinho is a Galo!" he tweeted. "Once again, thank you."
Robinho emerged through the Santos youth academy and starred for the first-team before joining Real Madrid as a 21-year-old and eventually joined Manchester City three years later. After a loan spell at Santos, he was sold to AC Milan, where he spent five years, though his final season was spent back on loan at Santos.