Peacock-Farrell arrives at Turf Moor from Leeds United for an undisclosed fee after agreeing a four year-deal – with a further year’s option – and becomes the Clarets’ third senior signing of the summer.
The highly-regarded 22-year-old joins the Clarets following the departure of Tom Heaton to Aston Villa.
And his signing adds another international to the Clarets’ keeping ranks as he joins England men Nick Pope and Joe Hart in Sean Dyche’s squad.
“I’m really happy to be here. A Premier League club is what you dream of when you are starting out in football and to say I’ve signed for Burnley is a massive honour,” said Peacock-Farrell.
“There’s massive competition here, but it was an opportunity I couldn’t turn down.
“The goalkeepers here are really good and two of them are England internationals. There’s something going on here that must be right.
“So to come here and be part of it, is something I’m really excited about.
“Popey and Heats came through from the Championship and established themselves here and that’s my aim as well.
“I would say it’s probably a long-term project. It was an opportunity I couldn’t pass up here.
“I’m not saying I’m coming here to replace anybody. I’m not. I’m here to learn and try and progress and be a better goalkeeper.
“I had my first session today and felt good. Hopefully I can hit the ground running and I’m looking forward to the weeks to come.”
Darlington-born Peacock-Farrell started his career in the youth system at Middlesbrough before joining Leeds and signing a first professional contract at Elland Road in 2015.
After making his first-team debut a year later, Peacock-Farrell then enjoyed his first run of games in the Championship towards the end of the 2017/18 season.
He then started last season as first choice at Elland Road and made 28 appearances as Leeds reached the Championship play-offs.
Peacock-Farrell qualifies for Northern Ireland through an Enniskillen-born grandfather and after graduating through the Under-21 ranks, made his senior international debut in September, 2018.
He has since gone on to win eight further caps and play a leading role in his country’s 100 per cent start to their Euro 2020 qualifying campaign.
He will wear squad number 15 at Turf Moor.