Sturridge signs for 'humongous' Liverpool
"I am humbled and happy to be here [at Anfield]," the 23-year-old told the club's website. "[Manager] Brendan Rodgers said he sees me here for a long time and I also see myself here for a long time.
"It is a humongous club, for me one of the biggest in the world, and to have the fans and world-class players we have here is amazing."
Liverpool did not disclose the length of Sturridge's deal but said he had signed a long-term contract.
The player struggled to hold down a regular first-team place after joining Chelsea from Manchester City in 2009.
Sturridge enjoyed his best spell with the London club under former manager Andre Villas-Boas at the start of last season but was sidelined again when the Portuguese was replaced by Roberto Di Matteo in March.
He was an unused substitute in the penalty shootout win over Bayern Munich in the Champions League final in May and has had an injury-plagued campaign this season.
Sturridge started 49 games and made 47 substitute appearances in three-and-a-half-years at Stamford Bridge, scoring 24 goals.
He has won four England caps and featured in the British team at the 2012 London Olympics after overcoming a bout of meningitis.
Sturridge is expected to be at Anfield for the league game against Sunderland later on Wednesday and could make his debut for five-times European champions Liverpool at non-league Mansfield Town in the FA Cup Third Round on Sunday.