The German-born Cameroon international has played 181 league games and scored 17 goals for the club he joined as a nine-year-old.
"I have always said that I would only bid goodbye to Schalke to experience something fundamentally new," the 24-year-old told Schalke's website. "That's why I never considered a switch within the (German) league.
"Even though the decision was definitely not easy, I am convinced that now is the time to make the next step."
Liverpool failed in their attempts to sign Matip during the January transfer window but the defender will now get a chance to work under former Borussia Dortmund coach Juergen Klopp when he moves to Anfield on July 1.
(Reporting by Pritha Sarkar, editing by Ed Osmond)
Share
