Solanke made just one senior appearance for Chelsea in 2014 and was loaned out to Dutch side Vitesse Arnhem for the 2015-16 campaign.
Liverpool did not specify the length of Solanke's contract or the fee for the teenager.
"It feels amazing and everyone has made me feel welcome already," Solanke told the club's website. (www.liverpoolfc.com)
"Even just pulling on the training top, I was over the moon. Hopefully I can put on the shirt in the near future and make some good history here."
(Reporting by Aditi Prakash in Bengaluru; editing by Amlan Chakraborty)
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