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In a summer dominated by big moves for goalkeepers, Chelsea rushed through a deal for Kepa, 23, after Thibaut Courtois joined Real Madrid for a reported 35 million euros.
The 26-year-old goalkeeper joined Real for a reported fee of 35 million euros ($40.6 million) on a six-year deal, with midfielder Mateo Kovacic departing Madrid for Stamford Bridge.
Kepa's arrival at Stamford Bridge came shortly after Chelsea had agreed to sell Belgian international 'keeper Thibaut Courtois to Real Madrid for a reported fee of 35 million euros.
Real will pay 35 million euros to bring the Belgium international, voted the best goalkeeper at the World Cup, to the Bernabeu, according to Marca.
Brazilian international Willian has given Chelsea a huge boost by committing his future to the Premier League giants as the futures of Thibaut Courtois and Eden Hazard remain in doubt.
The 26-year-old Belgium international was granted an extended rest after his country finished third at the World Cup, but he was scheduled to return to training after the Community Shield.
Courtois missed Chelsea's 2-0 defeat against Manchester City in the Community Shield on Sunday while he continues to rest after the World Cup.
Willian cut a forlorn figure at times under Conte and has been linked with Manchester United, Barcelona and Real Madrid.
New Chelsea gaffer Maurizio Sarri admitted to being disinterested by the transfer market.
Belgium goalkeeper Thibaut Courtois blasts France victory as shame for football after FIFA World Cup semi-final defeat
The Belgium goalkeeper criticised Didier Deschamps's side for a defensive style of play, after the latter's 1-0 win.