Lukaku, who is currently away on international duty with Belgium, agreed to the switch prior to the transfer window closing on Monday, rejecting a return to West Brom.
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"I'm very glad [to have joined Everton]," Lukaku told reporters. "I read that some said that I was not happy, but I am very happy.
"This is a club that can bring me a lot, that I can bring a lot to. I still hope to grow and do a good job with this team."
The Belgian indicated the opportunity to play regular first team football at Goodison Park was a key factor in his decision to leave Chelsea for the season.
He added: "I think at my age it is important to play a lot. I have a good relationship with the coach of Chelsea [Jose Mourinho]. Now I hope to have good results."
Everton also completed a £13 million move for James McCarthy on transfer deadline day, while Gareth Barry joined on loan from Manchester City.
Marouane Fellaini was sold to Manchester United for £27.5m meanwhile, with Victor Anichebe joining West Brom for £6m.