The Chinese Super League club have made the former Paris Saint-Germain man one of the highest paid players in world football after handing him a two-year contract worth £400,000-a-week.
Lavezzi, 30, joins former Premier League players Stephane M'Bia, Gervinho and Gael Kakuta at the newly-promoted club in an estimated £3.5m deal from Paris Saint-Germain.
His eye-watering contract will pocket him over £20m a year, making him the world's highest-paid player behind Cristiano Ronaldo and Lionel Messi.
Ronaldo makes over £30m a year from his contract at Real Madrid and various endorsements combined, while Messi's total salary is estimated to top £40m.
Neymar is also believed to earn more than £20m in a year but only thanks to a number of lucrative sponsorships and endorsements.
Hebei China Fortune, bought by Chinese billionaire Wang Wenxue just over a year ago, are one of a number of Chinese Super League clubs to have attracted a fleet of European-based stars with big money contracts.
Jiangsu Suning's capture of Chelsea's Ramires for £25m and Shakhtar Donetsk's Alex Teixera from under Liverpool's noses for £38m have been two notable deals in a transfer window which has seen over £200m spent by Chinese clubs on new players.