Snoop, 53, and who's son Cordell showed great promise as a junior player, is now a shareholder and co-owner in Swansea.
He follows new AC Milan signing Luka Modric in becoming another investor in the Swans.
"My love of football is well known, but it feels special to me that I make my move into club ownership with Swansea City," Snoop Dogg said on the club's website.
"The story of the club and the area really struck a chord with me. This is a proud, working class city and club. An underdog that bites back, just like me.
"I'm proud to be part of Swansea City."
Excitement and potential
Swansea were bought by Americans Brett Cravatt and Jason Cohen last November.
The club also said in a statement: "To borrow a phrase from Snoop's back catalogue, this announcement is the next episode for Swansea City as we seek to create new opportunities to boost the club's reach and profile.
"Snoop's colossal global fanbase and audience will certainly help us do that, and he has made clear to us throughout this process just how excited he is at the prospect of joining the club.
"Snoop has openly shared his love of football and his desire to be involved in the game and we expect his involvement to support us putting as competitive a team as possible out on the field."