After a stunning campaign in the Championship with Bristol City last season marked by 26 goals in 48 appearances, Abraham has had no shortage of Premier League suitors this summer.
Newcastle United and Brighton and Hove Albion, both promoted to the top flight of English football last season, were keen to make the 19-year-old Londoner the focal point of their respective attacks next term.
However, Swansea managed by former Chelsea youth coach and assistant manager Paul Clement, have now announced his arrival at the Liberty Stadium.
Chelsea initially confirmed the England Under-21 international had penned a new long-term deal with the club, with Swansea following up that announcement with one of their own.
"Abraham becomes the Swans' second signing of the summer, following Dutch keeper Erwin Mulder to the club," a statement from the Swans read.
"Abraham, who signed a five-year deal with his parent club today, will link up with his new team-mates during the club's tour of America."
His arrival is likely to pave the way for Borja Baston to leave Swansea following his dismal first season in south Wales.
Abraham became the first ever Bristol City player to scoop all three of the club's end-of-season awards when he was crowned player of the year, young player of the year and top goal scorer. That splendid season at Ashton Gate was his first full campaign in professional football having swiftly risen through Chelsea's youth ranks, winning back-to-back Uefa Youth League and FA Cup titles in 2015 and 2016.
This summer he represented England at the Under-21 European Championship in Poland where the Young Lions reached the semi-final stage. Abraham scored his only goal of the competition against Germany, before finishing on the losing side after an inevitable penalty shoot-out defeat.