Neymar left PSG after agreeing on a two-year deal with the PIF-backed club, one that is understood to be worth £130million a year.
He becomes the biggest name in football to move to the oil-rich nation after Cristiano Ronaldo left England.
He rejected the possibility of a loan move to his former club Barcelona, which would have included an option to buy him outright next year.
The Brazilian was seen speaking to the Saudi club’s fans in a video on their social media pages where he is heard saying:
‘I will never forget the day he arrived at Paris Saint-Germain, nor what he brought to our club and our project over the past six years.
‘We have lived extraordinary moments and Neymar will always be part of our history.
‘I would like to thank him and his family. We wish Neymar the best for the future and his next adventure.
‘Neymar joined PSG from Barcelona in a world record £198m deal in 2017.