The 14-time all-star’s contract at the Cavs expired this summer, and the three-time NBA championship winner confirmed his move to the West Coast via social media.
"Thank you Northeast Ohio for an incredible four seasons," said James on his Instagram account. "This will always be home."
James will move to L.A on a four-year contract worth an estimated $154 million (£116 million).
James travels to the Lakers hoping to help win their first title since 2010, and although their chances are now greatly improved, Sky Bet have boosted their odds of winning the NBA Championship from 4/1 to 3/1.
The versatile forward leaves Ohio after leading Cleveland to four consecutive finals, winning their first ever title in 2016, and Cavs owner Dan Gilbert voiced his appreciation for Lebron’s impact on the city.
"Words do not express the meaning and the feeling this accomplishment brought to the people of Northeast Ohio.”
He added: "None of this would have happened if LeBron James did not agree to come back home and lead the Cavaliers to the promised land.”
Gilbert went on to praise James, wishing him luck in his future endeavours.
“LeBron is a family man, first. We wish his kids, his wife, Savannah, his mother, Gloria, and LeBron himself nothing but the best in the years and decades ahead.
"LeBron's connection to Akron, Cleveland and all of Northeast Ohio will most certainly endure as his commitment to the region and his support of many important causes has been impactful to so many kids and families.”
He continued: "LeBron, you came home and delivered the ultimate goal. Nothing but appreciation and gratitude for everything you put into every moment you spent in a Cavaliers uniform. We look forward to the retirement of the famous #23 Cavs jersey one day down the line ..."
