Toulouse will loan out defender Serge Aurier on a one-year deal to Paris Saint-Germain.
The French club has the option to purchase Aurier, which would make his move permanent.
"Serge Aurier, one of the most promising young players in world football, courted by the biggest clubs, has chosen Paris Saint-Germain to continue to shine on the European stage. We are delighted to welcome this young player into our team," declared Paris Saint-Germain president Nasser Al-Khelaifi.
"To play for Paris Saint-Germain, with the exceptional players this club has, is a dream come true. I will give my maximum to help the club reach the summits. After taking part in the World Cup for the first time, I am having a fantastic summer. I would like to thank the club for the confidence they have shown in me," added Serge Aurier.
Aurier, who is considered one of the best right backs in Europe, was rumored as a possible target for English club Arsenal.
The 21 year old recorded six assists and six goals for Toulouse in 2013-14 and has 11 caps with Ivory Coast, including appearances at this summer's World Cup.
In June, PSG, which has won back-to-back Ligue 1 titles, completed the purchase of Brazilian defender David Luiz for $84 million on a five-year deal.
- Chris Johnson