Real Madrid's talismanic striker Raul, forced out of the Bernabeu after 16 record-breaking seasons, has signed for Schalke 04 at the age of 33.
Raul, who scored 323 times in 741 games for Real including a record 66 Champions League goals, is also Spain's all-time leading scorer.
He will try to revive his career in industrial Gelsenkirchen after falling out of favour at the club where he made his name.
"I am confident that with his qualities, with his talents, with his attitude and his personality he will be a great asset for the team, not just on the pitch but also off the pitch," coach Felix Magath told reporters.
Schalke finished as runners-up to Bayern Munich in the Bundesliga last season, qualifying directly for this year's Champions League group stage.
In a speech interrupted by applause, Raul thanked Magath who always believed the deal could be done.
"For me this is an important challenge and I hope all Schalke 04 supporters will enjoy it. And I hope that together with the team, we will be able to fulfil our objectives set at a the start of the season," Raul said.
The Royal Blues said he would sign a two-year contract, assuming he passes a medical.