Steed Malbranque has joined Tottenham from Fulham, with Wayne Routledge moving in the opposite direction on a one-year loan.
Malbranque had been linked with a move away from Fulham after he refused to sign a new deal earlier in the summer.
Routledge, 21, made just three appearances for Spurs since joining them in the summer of 2005.
Spurs boss Martin Jol said: “Steed is a skilful, versatile midfielder of real quality.
“He is a player we have always admired and we are delighted he has come to us, there were a number of other clubs interested.
“He is a player who can cover the left, centre and right midfield positions and will work well within our system.”
Malbranque is out of action with a groin injury at the moment, but he confirmed that he is looking forward to playing for Tottenham.
He said: “Tottenham is a big club and it’s a fantastic new challenge for me. It’s an excellent squad and I’m looking forward to joining.
“I will be working hard on my recovery and rehabilitation in order to be ready to play as soon as possible.”
Routledge said: “Obviously it was a blow for me to get injured as soon as I joined Spurs and it’s been frustrating since regaining fitness to not be able to break back into the team.
“This is a great opportunity to get back into first-team football, and especially as it is with a club whose footballing style I have always liked.”