The 25-year-old has signed a four-year contract with the Premier League side.
Reports claim Spurs have agreed a deal believed to be worth up to £12million for the highly-rated keeper.
A statement on Lyon’s website read: “Olympique Lyonnais would like to thank the man for his qualities which made him the captain of France and one of the best goalkeepers in the world and his rapport with the whole organisation and the supporters.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.