The Brazilian full-back joins the newly-promoted Liga outfit for the 2012-2013 campaign after failing to establish himself in the Portuguese giants' starting XI last term
The left-back becomes the third player to arrive at the Riazor from the Portuguese side this summer, following in the footsteps of former team-mates Alberto Rodriguez and Andre Santos.
Evaldo, who started his career with Atletico Paranaense, represented Porto, Maritimo and Braga before joining Sporting Lisbon in 2010.
The 30-year-old made 42 appearances for the Leoes, but struggled to make the left-back spot his own last season, and has subsequently decided to join Deportivo as he hopes to get regular playing time.
Deportivo have been busy in the transfer market so far, having also brought in Braga winger Pizzi as they prepare to fight for survival next season.