Pantilimon, a Romanian international, joins the club officially on July the 1st when his contract expires at Manchester City.
The giant stopper, 27-years old, comes to the club on a contract which would suggest he's here for the long haul.
Speaking to SAFC.com, sporting director Lee Congerton had this to say:
"Competition for places is healthy and brings out the best in players. We already have a great goalkeeper in Vito Manonne and another one now in Costel.
"Add to this youngster Jordan Pickford, who recently signed a long-term deal and we have a very strong stable of goalkeepers, which is vitally important in the top flight."
Becoming our third signing of the summer, Pantilimon said:
"It is a great privilege and honour to join a club like Sunderland. They have an amazing history and tradition and of course passionate fans.
"When I left Manchester City it was important that I chose a club with good ambition and a head coach who has the hunger and desire to take the team forward.
"After speaking with the boss, I knew this was the right place and he was the right man. I can't wait to start."
Pantilimon should a solid signing that will provide genuine competition for Vito Mannone's starting berth. It was important that we brought someone in to strengthen that position and Congerton has been keen to remind the fans that we're looking for players with experience of playing in England.
Stay tuned to Roker Report throughout the summer as we keep you up to date with all the transfer news and rumours. Also, feel free to keep in touch with our dedicated Transfer Centre, which you can do by clicking here.