The 25-year-old, who has won 14 caps for his country since 2014, links up with new Toffees boss Marco Silva at Goodison Park to become their fourth signing of the summer, and will wear number 20 for the club.
Bernard began his professional career at Atletico Mineiro in 2010 before joining the Ukrainian champions three years later, where he won the Ukrainian Premier League, Ukrainian Super Cup and Ukrainian Cup three times each.
At international level, he was also part of the Brazil team who won the 2013 FIFA Confederations Cup and played for his country at their home World Cup in 2014.
Speaking to evertontv, Bernard said that the chance to join a “great club with great tradition” was the key driving factor behind his decision to sign for the club, vowing to help “make things happen” alongside former Watford manager Silva.
“I chose Everton because of all the things I had heard about Marco Silva and after speaking to him I was happy with what he said to me,” the midfielder said. “The manager made me feel confident about playing here. He has achieved really good things at other clubs.
“Everton is a club with a great structure and a lot of tradition. When I found out about this opportunity and what the manager wanted out of me, I was happy.
“I did not need any convincing to come here. I believe I will be able to show my best as a player here.
“I can promise I will try my hardest and dedicate myself to my work and to trying to make things happen for Everton.”
Speaking on Bernard’s acquisition, Silva added: “Bernard is a quick player, very good technically and he can play on the left or right wings and as an offensive midfield player behind the striker.
“The fact he has 14 caps for Brazil is a further reflection of his quality.”
The signing of Bernard was quickly followed up by the double capture of Colombian defender Yerry Mina and Portuguese midfielder Andre Gomes from Barcelona.