The 33-year-old, who left Barcelona following the conclusion of the 2021-2022 campaign, has signed a 12-month contract with Bournemouth.
Neto will be Bournemouth's fourth signing this summer after Joe Rothwell, Ryan Fredericks and Marcus Tavernier.
“To be able to attract a player of Neto’s calibre is very pleasing," Bournemouth chief executive Neill Blake said.
"He has vast experience at the very top level of the game, so I’m sure he will be a huge asset for us.”
Barcelona are trying to balance the books so that they can sign all their new signings for the La Liga season. Neto is regarded as one of the top goalkeepers in La Liga even at 33 but getting his wages off the books could give them more financial balance.
Neto has been deputising Marc Ter Stegen at Camp Nou since he joined Barcelona from Valencia.
He has an experienced goalkeeper that would bring a lot of saves to Bournemouth who already enjoyed a winning start to life back English top-flight -- a 2-0 win against Aston Villa on Saturday.
The addition of Neto could help them retain a spot in the Premier League come end of season.
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