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Militão, 21, joined Porto form Sao Paulo just last summer but has immediately taken to European football, voted the best defender in Portuguese football for the fourth consecutive month in February.
Manchester United and Liverpool have been credited with interest in the Brazil international but Real have won the race for his signature.
Los Blancos have confirmed in a statement the defender has signed a six-year deal at the Santiago Bernabeu, beginning on June 30.
Militão, a centre-half who can also fill in at right-back, has made 20 Portuguese top flight appearances for Porto this term, chipping in with two goals and two assists.
Reports suggest Real have activated his €50million release clause to make him the first addition of Zinedine Zidane’s second spell in charge at the club.
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-25
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-24
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-24
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-24
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-23
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-23
AFF Suzuki Cup: Malaysia, Singapore and each participant's full squad, captain, star player and head coach
2021-11-23
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