Updated

Brazilian star Neymar finalized his move from Santos to Barcelona on Monday by inking a five-year contract with the Spanish champions.

The 21-year-old chose to leave Santos and head to Barcelona over Real Madrid, bringing an end to an intense bidding war between the Spanish giants.

Financial terms of the deal were not disclosed, but according to reports in Brazil, Neymar will move to the Camp Nou for a fee of nearly $40 million.

Neymar scored 138 goals in 230 matches for Santos while helping the side win the 2010 Brazilian Cup and the 2011 Copa Libertadores.

With Lionel Messi already leading the attack, Neymar's addition is expected to bolster an already potent side. And midfielder Andres Iniesta feels that Neymar has landed in the best place possible for his career.

"He is coming to the best possible place for him," Iniesta said. "Let him do what he does best, that is enough. It is great news that we can count on him. Surrounded by the people he will have here, he will get better and better."