The Red Devils have signed the 18-year-old in a deal that could eventually be worth £30million.

Rooney has signed a six-year contract with the Red Devils and Everton will receive 25 per cent of any transfer fee if he leaves Old Trafford.

United have paid the first £10million of the fee already with another £10million due on 1 August 2005.

Contingent payments, dependent on club success, the player renewing his contract and his appearances at international level, could see the transfer fee rise to almost £30million.

“It was a tough decision to leave Everton, the club I’ve supported and played for all my life, but I’m excited to be joining a club as big as Manchester United,” Rooney said.

“I feel this can only improve my career, playing with top players in top competitions like the Champions League and I can’t wait to meet up with the team.”

United boss Sir Alex Ferguson added: “I am very excited. I think we have got the best young player this country has seen in the past 30 years. Everyone is delighted by this signing.”

Manchester United beat off competition from Newcastle United for Rooney’s signature.

The Magpies started the bidding war one week ago with a £20million offer, which Manchester United equalled, before Newcastle upped their bid to £23.5million 48 hours later.

Manchester United then made a higher bid prior to Everton’s win against West Brom on Saturday.

Rooney scored 15 goals in 67 Premiership appearances for Everton since making his debut for the club in August 2002 in the 2-2 draw with Southampton.

The teenager’s record for England is outstanding - his excellent Euro 2004 displays brought his tally to nine goals in just 17 appearances for his country.

Despite breaking his foot in the run up to the World Cup 2006 in Germany he did indeed play, though as a sub in the first game. Unfortunately he was later to be sent off in the Quarter Final defeat to Portugal which England lost on penalties.