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The 30-year-old has put pen to paper on a four-year deal, which ensures that he continues to play in the Asian country.
Wakaso had been a free agent since leaving Jiangsu Suning following the dissolution of the club due to financial problems.
Shenzhen FC is the midfielder’s 11th professional club since he started his football career with Ghana Premier League side Ashanti Gold SC.
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Wakaso has been a key member of the Ghana national team since making his debut in 2012 and participating in that year’s AFCON.
He recently played AFCON qualifiers in March against South Africa and Sao Tome and Principe, captaining the Black Stars against the former.