Vinicius, who did not make his Flamengo debut until May 2017, is now expected to link up with his new club in July.
European champions Madrid had to fend off strong competition for the Brazil Under-17s international, as PSG and Barca were also sniffing around, and Vinicius is happy with his choice.
"Yes, Paris Saint-Germain and Barcelona among others," he told Marca when asked if there had been enquiries from elsewhere. "They were always in touch with us. In the end, we waited for the right time and the right team.
"I felt that I was making my boyhood dream come true, that I was going to a club that all the best players in the world want to be at. The best are there. I can't explain the happiness I felt when I signed the contract with Real Madrid.
"The stadium impressed me a lot. We went to a game but in the visit it impressed me a lot too. My brother was with me. We did a really good tour there and it impressed us even more."
Vinicius has scored 11 league goals in 51 appearances for Flamengo.