City gave no details about the transfer fee, reported by British media to be 28 million pounds, and there was also no mention of the length of contract.
"Manchester City are delighted to announce the signing of Stevan Jovetic from Fiorentina," the club said on their website (www.mcfc.co.uk).
"The 23-year-old Montenegro international will now join up with his new team mates over the weekend."
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Jovetic scored 13 goals in 31 Serie A games last term to help Fiorentina finish fourth as they just missed out on Champions League football to AC Milan on the final day.
The Montenegrin, nicknamed Jo-Jo by the Fiorentina fans, had been the subject of transfer speculation for several months and was also linked to Italian champions Juventus.
City have been busy in the transfer market in the close season as they bid to wrestle the Premier League title they won in 2012 back from rivals Manchester United.
They have bought Brazil midfielder Fernandinho from Shakhtar Donetsk and Sevilla's Spain winger Jesus Navas while agreeing a deal with the Spanish club for Spain striker Alvaro Negredo.
(Reporting by Toby Davis; editing by Alan Baldwin)
