The Serie A side will pay an initial €40 million for the Moroccan international, plus another €5 million in performance-related add-ons, according to Fabrizio Romano of The Guardian.
The 21-year-old spent the past two seasons on loan at Borussia Dortmund, where he developed into one of the best attacking full-backs in the world. Hakimi, who can play on both the right and left side, is coming off a season in which he scored five goals and provided 10 assists, thriving in the type of wing-back role that Antonio Conte prefers to utilize at the San Siro.
In total, Hakimi delivered 14 assists during his two-year stint in the Bundesliga.
The youngster, who signed a five-year contract with the Italian club, will offer a significant upgrade on Inter's current crop of full-backs and figures to be a crucial piece of the puzzle as Conte and Co. look to launch a sustained Scudetto challenge in the years to come.
Dortmund were apparently keen on retaining Hakimi's services but couldn't meet Madrid's asking price, which allowed Inter to swoop in and pull off what could eventually turn out to be one of the best signings of the summer.