Arnaut Danjuma has won six caps for the Netherlands
The 25-year-old becomes their first signing of the January transfer window, and had been expected to join Everton before Spurs made a late move.
Danjuma played for Bournemouth from 2019 to 2021, scoring 17 goals in 52 games before moving to La Liga.
He has six caps, scoring two goals, but did not make the Netherlands squad for the 2022 World Cup.
Danjuma played a key role in Villarreal's run to the Champions League semi-finals last season, scoring 16 goals in all competitions for the Spanish club.
He appeared to have agreed terms with Everton over the weekend, but before he could sign his contract Tottenham made their move.
"As soon as Tottenham came through for me, it was a no-brainer," Danjuma told Spurs TV.
"It's a massive club, brilliant coach, brilliant staff, brilliant club, the facilities are obviously unbelievable so for me I'm very excited to be part of the team."
His arrival adds to Spurs' attacking options alongside Harry Kane, Son Heung-min, Dejan Kulusevski, Richarlison and Lucas Moura.
Antonio Conte's side are fifth in the Premier League and moved within three points of the top four with a 1-0 win at Fulham on Monday.
-- Courtesy of BBC Sport