Chaplow only started four games for West Brom this season

Chaplow, 22, had been at The Hawthorns for nearly three years after moving from Burnley for �1.5m.

Chaplow has signed a three-and-a-half year deal with the club, who have an option to extend it for another year.

Albion will earn an initial �800,000 and could receive a further �550,000 from performance-related add-ons while there is also a 20% sell-on clause.

606: DEBATE Is Chaplow a good signing for Preston?

Preston chairman Derek Shaw told the club website: "It's a lot of money for ourselves, it's a big deal for us and we've put in a lot of hard work over the last two weeks to pull this off.

"We think it is the right type of deal for Preston. Richard has a lot of mileage left on the clock and we think he will be a great asset to the football club.

"West Brom see it as an opportunity to go and do some business with the cash and hopefully he'll be terrific for us.

"We know there were other clubs interested and we've managed to pull it off."

Chaplow made 58 appearances for the Baggies, scoring three goals, but had not featured regularly this season.

He also had a loan spell with Southampton for the last three months of the 2005/06 campaign.