The 20-year-old has agreed a four-year contract with the Bavarians, which will begin in the summer when the new transfer window opens.
Bayern have beaten off fierce competition for a player who is considered one of Switzerland’s brightest talents and who has shone with Basel.
Indeed, this season Shaqiri has helped the St. Jakob Park outfit to the last 16 of the Champions League.
Bayern are delighted, with coach Jupp Heynckes particularly pleased.
“Xherdan is going to strengthen our team in the coming seasons with his intelligence and dribbling skill”, said Heynckes.
“I’ve watched him for some time and I’m convinced he’ll become a key player for the club.”
The fee Bayern have paid has not been disclosed, but is believed to be around €13M.
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