Chelsea Football Club has confirmed the signing of highly rated right-back Wallace from Brazilian club Fluminense.
The 18-year-old agreed to terms with the Premier League outfit Tuesday after Chelsea accepted Fluminense's five-million pound asking price, Xinhua reported.
"Chelsea is delighted to announce we have agreed terms with Fluminense for the transfer of Wallace in the January transfer window," the London club said on its official website.
Wallace has featured 18 times for the Brazilian top-flight champions this year. He is also an under-20 international and played in Brazil's under-17 team that won the South American championship last year.
"I was really happy when I received the news about Chelsea. I always believed I could play in Europe but I've hard to work hard to achieve my dream," Wallace said on the Rio de Janeiro club's official website.
"It is going to be a great experience for me. But the move won't be until the middle of next year and until then I want to help Fluminense as much as possible."
Wallace will join fellow Brazilians Oscar, Ramires, David Luiz, and Lucas Piazon at Stamford Bridge.