— Villarreal CF (@VillarrealCF) August 12, 2020
The 31-year-old follows Francis Coquelin from Valencia and has penned a four-year deal with the Yellow Submarine.
Parejo was Valencia’s captain but the club’s owner Peter Lim decided to let him leave.
The move has upset Valencia fans, who are protesting the Singaporean billionaire’s club ownership.
Parejo was an icon at the Mestalla, making close to 400 appearances since 2011.
A set-piece specialist, Parejo will bring experience and proven quality to Unai Emery’s Villarreal midfield next season.
The former Real Madrid player has won four caps for the Spain national team.