Atletico have reportedly paid €4.2 million ($5.3 million) for the services of the Spanish striker.

"It has come as a surprise, but overall an enormous joy for me to be signed by Atletico Madrid," Mista was quoted as saying by Atletico's official website.

The 27-year-old, who was the Spanish Liga's top scorer in the 2003/2004 season, failed to maintain his place in Valencia's squad last season and was constantly used as a substitute.

But Mista will have to fight for his place as Atletico have good strikers at their disposal like Fernando Torres and Mateja Kezman.

"It is positive to have so many important strikers at the club and is a good problem for the coach. I am here to help the team how I can," he said.