The striker spent last season on loan with the Valencian outfit from Sevilla, and scored 17 times in 34 league appearances before going on to sign a permanent deal.
However, Levante have now decided to cash in on their prize asset, despite his efforts in helping them to Europa League qualification and their best-ever top-flight finish.
|31/20||Wigan are 31/20 to be relegated next season with Sportingbet|
The 28-year-old boasts an impressive goalscoring record for Ivory Coast with nine goals from his 35 matches for his country.
Kone becomes the fourth player to join Roberto Martinez’s side over the summer following the arrivals of Fraser Fyvie from Aberdeen, Ivan Ramis from Mallorca and Ryo Miyaichi on a season-long loan from Arsenal.
The Latics will be hoping to build on a strong end to last season, which saw them avoid relegation to the Championship, when they open their Premier League campaign at the weekend at home to Chelsea.