Trippier has signed a three-year deal with Atletico Madrid.
It is understood that Atletico Madrid have paid £21.7m for the right-back, who passed a medical in Spain on Wednesday.
Tottenham were given the chance to sign forward Angel Correa during the talks but they wanted a straight money deal.
Tripper featured 114 times for Spurs over four seasons, making his last appearance in the Champions League final in June.
He now joins a host of high-profile names at the Wanda Metropolitano including club record signing Joao Felix and Marcos Llorente.