Manchester City released the 35-year-old at the end of his contract and now he has joined the Premier League champions as understudy.
Willy Caballero has officially joined Chelsea on the first day of the summer transfer window.
The 35-year-old former Manchester City goalkeeper was announced as a new acquisition by the Premier League champions, after his contract with the Blues expired and he was allowed to leave.
Caballero spent three seasons with the Blues, making 47 appearances as understudy first to Joe Hart and then to Bravo.
After an unsure start to his City career, he won the fans over with his heroics in the League Cup final penalty shoot-out win over Liverpool in 2016.
Caballero is expected to be number two to Chelsea’s Belgium international Thibaut Courtois, after Asmir Begovic left to join Bournemouth.
Caballero is also understood to have considered offers from Premier League newcomers Brighton and Newcastle.