The Reds have signed the 21-year-old Dutch international on a five-year deal.
Gravenberch has left Bayern after joining the club from Ajax last year for an initial fee of £15.8 million (18.5 million euros).
“I’m overjoyed that the deal is completed and that I’m finally here.” Gravenberch told Liverpool’s website, “It’s one of the biggest clubs in the world.”
Liverpool have turned down a £150 million bid from Al Ittihad for Mohamed Salah.
“Now we start over, a new beginning, and I’m going to give it my all for this club.” [My goals are] to win awards. To win trophies, we must play a lot and demonstrate who we are and who I am.”
Gravenberch, who has chosen the number 38 shirt, is a player Liverpool have been tracking for several seasons, and the Reds see him as a midfielder who can play in a variety of roles and systems.
Gravenberch is unlikely to make his debut against Aston Villa on Sunday, but with the international break approaching, he might make his debut against Wolves on September 16.
He joins Liverpool midfielders Alexis MacAllister, Dominik Szoboszlai, and Wataru Endo in signing this summer.
Liverpool manager Jurgen Klopp described Gravenberch as “an exceptional talent” and a wonderful “fit” with the midfielders the club has already signed this summer.
“Ryan knows he needs to improve, but he’s 21; it’d be insane if he didn’t.” But he’s a super-talented player who can drive the ball and be a box-to-box threat,” Klopp remarked.
“He has a good passing eye and a good pass.” As I previously stated, we face a significant challenge in reinventing one of the most successful midfields this club has ever had, and I am excited about it.
“When I look at the team right now, it’s a good football team, honestly.”
The Anfield club has replenished their midfield with the free signings of James Milner, Naby Keita, and Alex Oxlade-Chamberlain, who were followed by Jordan Henderson and Fabinho leaving for Saudi Arabian clubs.
Gravenberch came via the Ajax youth system and made his debut for the club against PSV Eindhoven in September 2018.
Before joining Bayern, the box-to-box midfielder played 103 games for the Dutch club, scoring 12 goals.
He started just three games for Bayern last season in 24 Bundesliga appearances, and he made his first appearance this season as a late substitution in a 3-1 win against Augsburg on Sunday.