Werner has signed a five-year contract worth £170,000 per week, with the Germany international set to arrive at Stamford Bridge in July as part of a £47.5 million ($59m) deal.
The Blues confirmed that the prolific frontman will remain with his current club until the end of the Bundesliga season and, subject to a medical examination, will link up with his new side ahead of the 2020-21 Premier League campaign.
A plethora of sides, including Liverpool, Real Madrid, Barcelona and Inter, had been credited with an interest in Werner, but it's the Blues that have won the race to sign a player who is currently enjoying the most prolific season of his career.
Speaking to Chelsea's official website, Werner said: "I am delighted to be signing for Chelsea, it is a very proud moment for me to be joining this great club.
"I of course want to thank RB Leipzig, the club and the fans, for four fantastic years. You will forever be in my heart. I look forward to next season with my new team-mates, my new manager and of course the Chelsea fans. Together we have a very successful future ahead of us."
To everyone at @ChelseaFC :— Timo Werner (@TimoWerner) June 18, 2020
I’m incredibly happy to be joining the Blues next season! It feels like the right step for me and I am delighted to become a part of Chelsea FC. Really looking forward to playing for such a fantastic and historic club!
See you soon Chelsea fans! 👋 pic.twitter.com/WLcagJCHWt
The forward, capable of playing anywhere across the frontline but often deployed at part of a strike duo, has amassed an incredible 32 goals and 13 assists across 43 appearances this term and the club's hierarchy are understandably excited at completing the transfer coup.
Director Marina Granovskaia said of the signing: "We are very excited that Timo Werner has chosen to join Chelsea. He is a player who was coveted all over Europe and it is no surprise, he has that rare mix of being young and exciting and yet established and proven.
"We can’t wait to have Timo on board, but until then we wish him and RB Leipzig all the best for the rest of this season."
Currently sitting third in the Bundesliga, Leipzig are on course to qualify for the Champions League once again.
They may well have do without Werner for what remains of the 2019-20 edition of Europe's premier club competition, however, with Goal having reported that the striker has told Leipzig he is unwilling to feature.