The England international's deal with Nike expired at the end of last season and the 26-year-old has been mulling over a host of lucrative offers from all the major sportswear giants including Puma and Adidas.
A proposed £100m contract with Puma collapsed last summer with the German sportswear company unwilling to meet the demands of the City forward, says the Daily Mail.
American firm New Balance have won the race to land the global star, with the pair set to collaborate 'across performance and lifestyle products'.
"Growing up all I dreamt of was playing football," Sterling said in an official announcement.
"From kicking a ball around in Brent with my mates to my first Champions League Final on May 29th and representing my country at this summer's European Championships, in my hometown.
"There's so much more I want to achieve, both on and off the pitch, and this partnership will provide me with the platform to do so."
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