Hedman completes Bhoys switch
The World Cup star had been eager to leave Highfield Road following the club's relegation in 2001, but has now agreed to move north of the border and will compete with Robert Douglas and Jonathan Gould for the club's number one jersey.
Hedman had travelled to Glasgow earlier this week to discuss personal terms with manager Martin O'Neill and has signed on the dotted line.
The 29-year-old had been strongly linked with a move to the Spanish La Liga sides Alaves and Espanyol, however the transfer never materialised leaving the Scottish Champions free to make their move for the former AIK Stockholm star.
The Stockholm-born shot-stopper was a virtual ever-present for The Sky Blues last season making 36 starts, thanks largely to Chris Kirkland's big-money move to Liverpool.
In what has been a successful day in the transfer market, The Parkhead outfit have also completed the signing of Hibernian defender Ulrik Laursen.
Hedman admitted it was an honour to join the champions and that he was looking forward to the challenge of playing in Scotland.
"It's a great honour to sign for Celtic," said Hedman. "This move will give me a tremendous opportunity in my playing career and I'm looking forward to the challenges ahead."
Danish star Laursen was also delighted to have moved to Glasgow.
"I'm delighted to have joined," said Laursen. "I hope to be able to play my part in bringing continued success to the club."
O'Neill was happy to make the duo his third new signings of the summer as he prepares to defend their title and an assault on the Champions League."We are pleased to have secured the signings of two players who I think can make a great contribution to the club," said O'Neill. "It was important that we added to our squad and I'm sure that both Ulrik and Magnus will prove to be quality additions."