"He's been subjected to a standard examination," said Real Madrid doctor Carlos Diez after Arbeloa's medical.
"The results of every test are very satisfactory. He is delighted about playing for Real Madrid. It's always been his dream. He can't wait to join his team-mates."
Arbeloa has spoken of his delight at moving to Madrid after failing to hold down a regular first-team place at Anfield.
"Since the door was opened to the possibility of coming here I was hoping for it to happen with all my heart, and I'm very happy to be able to return," Arbeloa told RealmadridTV.
"Not even in your best dreams can you imagine that you are going to be in the Real Madrid first team.
"Moreover, when you leave the club with the feeling of not being able to be in the first team, you know that it's very difficult to return, so for me, when this opportunity presented itself, my first objective was to take it and fortunately I'm here."
Arbeloa, who was part of Spain's Euro 2008-winning squad, scored two goals in 98 games for Liverpool and speculation had suggested he could join Real in a joint deal that would result in Xabi Alonso also leaving the Merseysiders.
However, a question mark over midfielder Alonso's future still remains as the club's players enjoy a three-day break before returning on Thursday.
Benitez has spoken to Alonso and urged him to stay at Anfield.
"I talked to Xabi and told him, as he can see here, that the fans love him and said to him 'Maybe you have to stay," said Benitez recently.
"You can see he is a really good player and I'll be really pleased if he stays. All the players and his team-mates want him to stay. If we keep Xabi I will be very pleased."
Liverpool striker Fernando Torres is also keen for his Spanish international team-mate to stay at Anfield.
"It would be a bad piece of work if Xabi left - he plays his cards close to his chest so I don't know what is going to happen," Torres told The Sun.
"I'd put Xabi's own wishes ahead of everything else, of course, but he's got three years left on his contract with us and I'd love it if he stays.
"It would be a serious loss for Liverpool if he left this summer."
Liverpool are also believed to be close to selling Italian left-back Andrea Dossena to Napoli.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.