Gifted wing-back Vargas has carved out an impressive reputation in Sicily and played a crucial role in keeping Catania afloat last term.
After two years and 65 games with the Rossazzurri, the 24-year-old decided he wanted to join a bigger club and his club told him they wouldn't stand in his way.
After a brief flirtation with Roma and Real Madrid, Fiorentina emerged as the main contenders for Vargas's signature and the Viola have confirmed he is their fifth new recruit of the summer after shaking hands last night.
Fiorentina have paid around £9.5m and have given Vargas a five-year contract worth just over £700,000 per season.
The Tuscans may now end their interest in Lyon's French wing-back Anthony Reveillere.
Source: C4 Football Italia
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