The 27-year-old defender has put pen to paper on a four-year contract, with the fee for the move undisclosed. Svoboda is currently away on international duty with Austria at the World Cup and will not link up with his new Albion teammates until later in the summer.
Manager Fabian Hurzeler was delighted to get the deal done, hailing the impact his new signing made in Italy last season.
"Michael has enjoyed a fantastic season with Venezia, captaining them to the league title.
"He has a number of attributes that we believe will see him adapt well to how we play, both in and out of possession."
Hurzeler also pointed to the level of competition Brighton saw off to land the Austrian.
"He also adds competition to an area we are looking to strengthen and with a number of clubs pursuing him this summer, I am very happy that he's decided to come to Brighton."
Svoboda came through the youth ranks at Schwechat in his native Austria before making the move to WSG Tirol. He won promotion to the Austrian Bundesliga during his time at the club, announcing himself as one of the country's most promising young defenders.
His rise from the Austrian lower leagues to Serie B captain has marked him out as one of the most sought-after performers in the division this summer. The centre-back joined Venezia in 2020 and has since collected two promotions from Serie B, in 2021 and again in 2026.
He was a near ever-present for the Venetians as they secured that latest promotion, starting his first league game of the campaign in matchweek ten with the club sat eighth in the table at the time.
Venezia lost only two more league matches for the remainder of the season from that point. Svoboda started all but one of those matches as Venezia finished a single point above second-placed Frosinone to seal the title.
His form for Venezia has not gone unnoticed at international level either. Svoboda made his senior debut for Austria in October 2024 and has since won four caps for his country.
He will now be hoping to add Premier League experience to a career résumé that already includes a Serie B title and promotion from the second tier of Austrian football.
Brighton's business continues as Hurzeler looks to strengthen his options before the new season gets under way.