Iran Press/ Asia: "The Atlantic lion is our goalie," Al-Hilal posted on messaging platform X, formerly known as Twitter.
The terms of the deal were not disclosed, but Spanish media reported Sevilla would receive 21 million euros ($22.8 million).
Al-Hilal said the deal was sponsored by its honorary President, HRH Prince Al-Waleed bin Talal.
Bounou, 32, was Sevilla's first-choice goalkeeper, helping the Spanish team to win two Europa League titles and Morocco to reach last year's World Cup semi-finals in Qatar.
Bounou, commonly known as Bono, was reportedly a target for Real Madrid and Bayern Munich as a temporary stand-in for the injured Thibaut Courtois and Manuel Neuer.
Al-Hilal, the most successful club in Saudi Arabia and Asia, Has won 66 trophies, including 18 domestic league titles and four Asian Champions League crowns.
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