Gyan, 29, was the subject of an offer worth approximately â‚¬20 million from Sven-Goran Eriksson’s ambitious side.
According to reports from the UAE, the amount offered by the Shanghai SIPC is the biggest transfer amount in the country’s history.
The Boss are set to reap a significant profit on the investment made bringing him to the Garden City, a £6m loan fee being paid to Premier League outfit Sunderland in September 2011 with another £4m following in July 2012 to make it permanent.
Gyan has proven a phenomenal success with the Boss.
He has helped fire them to three league titles, the 2014 President’s Cup and the 2012 Arabian Gulf Super Cup.
He will depart the UAE with three top-scorer awards and a phenomenal 95 goals in 83 AGL appearances.
He was also the leading marksman in the 2014 AFC Champions League with 12, as Al Ain made the semi-finals for the first time in nine years.
But last term was his least productive in a purple shirt, a lingering quadriceps problem continually flaring up. He started just 12 top-flight games, scoring 13 times.