However, Bayern's interest in Upamecano was well-documented, and the Champions League winners have now confirmed that the centre-back will make the move to Munich on July 1.
The Bavarian giants are believed to have triggered the 22-year-old's €42.5m (£38m) release clause, and he is poised to join Bayern on a five-year contract until the summer of 2026.
Speaking to the official Bayern Munich website, Board member for sport Hasan Salihamidzic said: "We're happy that we've been able to sign Dayot Upamecano for FC Bayern München. We're convinced that Dayot will be a very important member of our team in the coming years."
The signing of Upamecano could pave the way for David Alaba to leave the club, with the Real Madrid-linked Austrian's deal set to expire in the summer.
Upamecano has made 139 appearances for Leipzig across all competitions, including 26 during the 2020-21 campaign.