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Paredes has signed “a contract until June 30, 2025” reportedly worth four million euros ($4.4 million) a season. Sanches joins “in a loan deal with an obligation to buy if certain conditions are met”, Roma said.
Paredes, who triumphed with Argentina at last year’s World Cup, was a Roma player between 2014 and 2017 before being sold to Zenit Saint Petersburg.
The 29-year-old will wear the number 16 shirt made iconic by home-grown hero and fellow World Cup winner Daniele De Rossi.
“I would never have chosen that number without his permission,” Paredes told Roma’s social media channels.
“He sent me a message to say that he would be delighted if I picked that number. It will be an honour.”
Paredes moves to Roma after Juventus didn’t take up their option to buy him at the end of his loan from PSG at the end of last season.
Paredes won three league titles and two French Cups for Qatar-backed PSG, and was a losing Champions League finalist three years ago.
Following the departure of Nemanja Matic to Rennes, Portugal international Sanches joins after an unconvincing season with PSG.
Italian media report that Sanches arrives on a one million euro loan which will become a permanent move for 14 million euros should he feature in 60 percent of Roma’s matches.
The 25-year-old, who won Euro 2016 with his country but hasn’t played an international match since 2021, joins compatriot Jose Mourinho at Roma who begin their season with the visit of Salernitana on Sunday.