The 18-year-old has put pen to paper on a five-year contract at Falmer stadium, though he is not expected to feature for the first team immediately - the plan is to send him out on loan to a European club for the 2026-27 season to continue his development away from the pressure of the Premier League.
Orozco broke into Deportivo Cali's senior side at just 16 and went on to make 24 appearances in the Colombian top flight last season, operating primarily as a defensive midfielder while also capable of playing further forward.
Sporting director Mike Cave framed the signing as an investment in potential rather than an immediate solution.
"We have identified Matias as an exciting young talent who we're really pleased to bring to the club," Cave said.
"He has already got good experience in Colombia and we will now place him with a club on loan for the 2026/27 season so he can continue his development.
"We're looking forward to working with him and to helping him reach his potential."
The move continues a well-worn pathway for Brighton, who have built a reputation over the past decade for identifying young talent in South America before developing and, in several cases, selling players on for significant profit - a model most famously associated with Moises Caicedo's rise from Independiente del Valle to a British-record £115m move to Chelsea.
Orozco also captains Colombia's Under-20 side, adding international pedigree to a profile Brighton clearly believe has the raw material to follow a similar trajectory.
Orozco becomes the second high-profile Colombian teenager to move to Europe in recent days, following defender Cristian Orozco's switch to Manchester United, and underlines the growing pull of English clubs for the country's academy graduates.
Deportivo Cali retain a 15 per cent sell-on interest in any future transfer, giving the Colombian club a financial stake in Orozco's continued progress even after his departure.