Alderete moves to the Black Cats for a mooted fee of €15m, signing a four-year deal in the process.
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"I'm feeling great about signing for this great team, so I'm really happy," said Alderete, 28. " I'm looking forward to my first experience in the Premier League – it's a great challenge for me.
"I know it's a historic club, and when they told me there was an opportunity, I was excited about coming here.
"It's always important to have the support of the people, and I'm going to give it my all on the pitch."
Alderete will wear the number 15 shirt.