This is the first time in history that a French club has broken the record, with Spanish, Italian and English clubs responsible for all but three world record deals since the very first £100 transfer was completed 124 years ago in 1893.
Neymar has signed a lucrative 5-year contract with the six-time French champions after leaving Barcelona's pre-season programme earlier this week. Barcelona confirmed earlier on Thursday that the player had officially bought himself out of his contract in Catalunya - with the deal obviously funded by PSG - in order for him to complete the move.
PSG's new number 10 said on the transfer:
“It is with immense joy and pride that we welcome Neymar Jr to Paris Saint-Germain," said Nasser Al-Khelaifi, President of Paris Saint-Germain. "Neymar Jr is today one of the very best players in world football. His winning mentality, strength of character and sense of leadership have made him into a great player. He will bring a very positive energy to this club.
"In six years, we have built a very ambitious project that has already taken us to the highest level of national and European football. Today, with the arrival of Neymar Jr, I am convinced that we will come even closer, with the support of our faithful fans, to realising our greatest dreams.”
Neymar joins four of his Selecao international colleagues in Paris - Thiago Silva, Marquinhos, Lucas Moura and ex-Barcelona team-mate Dani Alves.
In landing Neymar, PSG, who are looking to wrestle the Ligue 1 title back from Monaco after last season, have successfully completed arguably the most ambitious transfer of all time.
Should he inspire PSG to glory in the Champions League - the club has never yet been further than the semi-finals (1995) - ending the long quest for European glory, he will have potentially done that.