The 28-year-old previously played for United manager Louis van Gaal at Dutch club AZ Alkmaar and will provide competition for Spanish 'keeper David de Gea, while Victor Valdes is set to be sold after refusing to play in the reserves last season.
Van Gaal described Romero as "a very talented goalkeeper." Adding, "he was a young keeper during my time at and I am delighted he is joining Manchester United."
Romero has played 62 matches for Argentina and played in the 2014 World Cup final against title-winner Germany.
He made his senior club debut at Racing Club in 2007 before moving to AZ and most recently Italy's Sampdoria.
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