Zaniolo joins from Serie A side Inter Milan for an initial fee of €4.5 million.
As part of the agreement, Inter retain a right to 15% of any transfer fee - should Zaniolo be sold by the Giallorossi in future.
The 18-year-old has signed a five-year contract that runs until 30 June 2023. He will wear the No. 22 shirt.
“I’m proud to get the opportunity to represent this club,” Zaniolo said.
“Now I have to demonstrate out on the pitch exactly what I can do.”
A powerful attacking midfielder with an eye for goal, Zaniolo has been capped at Italy Under-19 level, scoring four goals in 13 appearances for the national side.
During his time with the Nerazzurri, the Massa-born player helped his side win the Primavera title and Supercoppa crown during the 2017-18 campaign.
Last season in provided an impressive 13 goals and eight assists in 26 league appearances for their title-winning Under-19 side.
“I am very pleased to welcome Nicolo to Trigoria,” Roma sporting director Monchi said.
“He has a talent that left a clear impression on us last season, a campaign in which he underlined why he is considered one of the most interesting prospects in Italian football.”
Having initially come through the academy system at Fiorentina, Zaniolo briefly moved to the Virtus Entella – making seven senior appearances in Serie B for the club before being signed by Inter.
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