Atletico Madrid and France defender Lucas Hernandez will join Bayern Munich for 80 million euros ($90m) this summer, the German club announced on Wednesday.

The 23-year-old World Cup winner will sign a five-year contract starting on July 1, Bayern said in a statement.

The 80 million euro fee makes him the most expensive signing in Bayern's history, almost doubling the sum paid for Corentin Tolisso.

It also makes Hernandez one of the most expensive defenders in history, and one of the most expensive players ever signed by a German club.

"I am very happy that we have managed to sign Lucas Hernandez, who is a World Cup winner and one of the best defensive players in the world," said Bayern sporting director Hasan Salihamidzic.

"Lucas can play in central defence or at left-back. He will strengthen our team and continue the tradition of fantastic French players at our club."

The announcement is the latest sign that Bayern are planning a major squad overhaul this summer.

Bayern were knocked out of the Champions League in the round of 16 and earlier this month, club president Uli Hoeness declared that Bayern were launching the "biggest programme of investment the club has ever seen".

In January, Bayern announced that Hernandez's fellow France defender Benjamin Pavard would join from Stuttgart this summer for 35 million euros ($40m). Hamburg's 19-year old striker Jann Fiete Arp will also complete a move to Munich by the summer of 2020.