The 40-year-old admits he did all he could to make the move to Stamford Bridge a reality after learning of their interest and is looking forward to the new chapter of his career
"It's a phenomenal club. It's one of the biggest and best clubs in the world, and it's an honour to sign for Chelsea. I didn't take much convincing to come here," he told the official club website.
The 40-year-old goalkeeper made the short trip across west London after turning down a new contract at Fulham and will provide competition for Petr Cech.
And Schwarzer is convinced his new team can reign once again in the Premier League following Jose Mourinho's return to the managerial helm.
"There were other interests but once I knew Chelsea was interested it was very much the case that I wanted to try and make it happen. I'm very fortunate and delighted to be sitting here today," he explained.
"I live closer to here than my previous club. There were a lot of things that ticked all the boxes, but most of all Chelsea Football Club is an enormous club and I think a club that can re-establish itself as the best club in the country.
"It has an unbelievable manager and an unbelievable squad of players and it's very exciting."