Chelsea owner Roman Abramovich reportedly paid the equivalent of 50 million dollars to bring the forward from Italy to to London.
Schevchenko's performance in Serie A from 1998 through 2005 was successful, with a Champions' League Cup win in 2003, and a Ballon d'Or European Footballer of the Year award in 2004.
A transfer to Chelsea in 2006 was less productive for the Ukrainian, with Schevechenko frequently unable to find a starting spot in the Blues' side.
The Ukrainian Schevchenko, 32, began his career with Dynamo in the mid-1990s.