The defender is currently at the World Cup with France, but will join up with Madrid once the tournament concludes.
"Real Madrid CF and Ibrahima Konate have reached an agreement whereby he will be a Real Madrid player for the next four seasons, until June 30, 2030," the club said in a statement posted to their website.
Konate arrives at Madrid having spent five years with Liverpool, where he featured 183 times and won the Premier League, two EFL Cups and an FA Cup.
The 27-year-old is Real's third confirmed addition of the summer, joining alongside fellow Premier League duo Bernardo Silva and Marc Cucurella.
Inter right-back Denzel Dumfries is also expected to join, with Perez promising his arrival alongside Konate when he was campaigning to be re-elected as club president.