His transfer fee outstrips the £46.5 million that Arsenal paid for French striker Alexandre Lacazette last August. Aubameyang's arrival is likely to lead to the departure of veteran marksman Olivier Giroud.
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Striker joins Arsenal from Dortmund for record fee
The 28-year-old Gabon striker, who has scored 141 goals for Dortmund since joining in 2013, signed a long-term contract with the storied London club.
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"Pierre-Emerick Aubameyang has joined us from Borussia Dortmund on a long-term contract for a club-record fee," the statement from Arsenal said.
The club described him as "one of the world’s most highly-rated strikers".
"He scored 98 goals in 144 Bundesliga games for Dortmund and had a hand in 172 goals in 213 matches in all competitions for his former club," it continued.
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"That works out at an average of 96 minutes per goal or assist.
"Auba is the Gabon captain and all-time top goalscorer, and became the first Gabonese winner of the African Footballer of the Year award in 2015."
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