The 32-year-old scored 15 league goals to help Swansea avoid relegation last season but missed the first month of the current campaign with an arm injury.
He has 24 caps with Spain and was a part of the 2010 World Cup winning squad.
"I can only say I come here to help Tottenham try to win titles," Llorente told the club website. (www.tottenhamhotspur.com)
“I think they are working really well in the last few years, I like Mauricio Pochettino, his mentality, his thoughts about Tottenham and I think the project and the philosophy of this club is amazing."
Llorente joins defender Serge Aurier at White Hart Lane on the deadline day as Pochettino hopes to strengthen the squad that finished second behind Chelsea in the league last season.
Swansea announced the signing of Bony, who rejoins the Welsh side after struggling for first-team opportunities at Manchester City.
The 28-year-old Ivory Coast international has signed a two-year deal, with an option of a third, at the Liberty Stadium.
He was the focal point of Swansea's attack during his first spell between 2013 and 2015, netting 34 goals in 70 appearances.
(Reporting by Hardik Vyas in Bengaluru; Editing by Ian Ransom)
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