The 20-year-old has signed a five-year contract with the Biancocelesti, bringing to an end a transfer saga that began way back in January.
Lazio hoped to complete a deal for the midfielder during the winter transfer window only for it to collapse when key paperwork arrived after the deadline.
The Rome club looked to revive the move when the summer transfer window opened but talks were held up by UK-based investment fund Doyen Sports, which owns 50% of the player's registration.
However, those hurdles have now been cleared and the player has been able to finally complete his long awaited move to the Stadio Olimpico.
"SS Lazio announce the player Felipe Anderson has tied himself to the Biancocelesti for five years," read a statement on the club's website.