Pejcinovic has joined the Swabians from relegated VfL Wolfsburg and signed a contract with VfB until 30 June 2031.
Media reports say the fee is 25 million euros, which would make the 21-year-old the second most expensive signing in the club's history. Deniz Undav still holds the record after joining the Swabians for 26.7 million euros last season.
"I can hardly wait to get started at VfB, the anticipation is huge. I already know some of my new team-mates from the DFB youth teams and had very good talks with those responsible, so I did not have to think long when I heard about VfB's interest," Pejcinovic is quoted as saying in a club statement.
Getty ImagesDzenan Pejcinovic scored 12 times for Wolfsburg in 2025/26
Sporting director Fabian Wohlgemuth said: "On the one hand, we are convinced by his footballing abilities, and on the other it was our aim to further strengthen the squad for the upcoming tasks in the Bundesliga, the Champions League and the DFB Cup. Dzenan has everything needed to be a valuable option in attack straight away."
Last season, the 21-year-old scored 12 competitive goals for VfL Wolfsburg. He has also played his way through numerous DFB youth national teams.