The 22-year-old Blancos star will move to the Ramon Sanchez Pizjuan on a season-long loan after scoring 11 goals in 34 appearances for the Liga giants' Castilla side
Goal exclusively revealed that the Russian was set to move to the Ramon Sanchez Pizjuan in a loan deal from Real Madrid on Sunday.
The 22-year-old has only made one substitute appearance for the Blancos first team but has been a regular for the club's Castilla side - scoring 11 goals in 34 appearances last season.
The Russian was at the Sanchez Pizjuan on Sunday for medical tests and took his place in the stands to watch los Nervionenses' 2-2 draw with Malaga.
Cheryshev becomes the 14th new recruit signed by Unai Emery this summer, joining the likes of Marko Marin and Kevin Gameiro in a new-look Sevilla forward line.