The Blues agreed to sell the Ukrainian, who cost them £30M two years ago, in a deal of which agreement details were deemed 'confidential'.

"I'm very happy. It had been a while that I was hoping that this negotiation would turn out well," Sheva told Milan's official site.

"For me it's as if I've won the Champions League.

"There were some complications, but now that everything has been resolved I'm very happy."

Shevchenko's return to San Siro has been increasingly looming as he showed no signs of adapting with Chelsea since joining for a club-record fee.

The 31-year-old is handed the opportunity to widen his superb record of 173 with Milan, where he won the UEFA Champions League in 2004.