The 18-year-old has revealed that Swansea boss Brendan Rodgers played a big role in his signing on at the Liberty Stadium.
"I'm delighted, with injuries at Chelsea it has been quite hard. I'm here now and I start training tomorrow so I'm really looking forward to it," McEachran told Swansea's official website.
"There were a few others in the Premier League, but I chose Swansea because the style of football they play will suit me and Brendan had a big impact on me. I've known him from his time at Chelsea and I think he's a fantastic manager, so I look forward to working under him.
"It's a really young team here, so I think I'll fit in well and the style of play is exactly how I play."
McEachran will go straight into the squad to face Sunderland on Saturday.