The 23-year-old, who has penned a five-year contract with the English giants, becomes the second most expensive keeper, behind Gianluigi Buffon who joined Juventus from Parma for €53m.
“I like everything about Manchester City," Ederson told City's website. "This is a great club, the league they have here in England and they have amazing fans and they play splendid football. I have always had the dream to play in English football and now I'm going to make it true.
“With Pep Guardiola, City are growing more and more. He is putting in place a young team for the future. Those were important factors in making my decision.
“Manchester City has an amazing squad. I think they managed to have a good season. Next season, we will have to be focused to achieve the goal of winning trophies.”