The Brazilian international impressed during the recent Confederations Cup, helping his country lift the trophy courtesy of a 3-0 win over world champions Spain in the final last night.
His switch to Spurs had been rumoured throughout the summer and an emotional Paulinho confirmed the news in a press conference today, although Tottenham are yet to make an official statement.
"This is a very hard moment for me, I have had three great years at Corinthians, but now it's time to go to Tottenham," the 24-year-old told reporters.
"The proposal came in, we sat down, analyzed and resolved it. I'm sure I made a great decision going to a big club too. There comes a certain time when you need new challenges."
Corinthians director of football Roberto de Andrade thanked Paulinho for his service during his time at the club in which he scored 34 goals in 167 games.
The reported fee of £17m would make Paulinho Tottenham's record signing.