The France international winger moved to the Hammers from Ligue 1 outfit Marseille last month, as announced on the Premier League club’s official website.
Payet signed a five-year contract with a further one-year option for an undisclosed eight-figure fee.
Bilic is delighted that West Ham could secure the services of the 28-year-old, and has revealed that the Frenchman was his number one target.
“He is a great player and did really well at a big club like Marseille,” Bilic told West Ham’s official website. “He was fantastic last year and I really wanted him…
“He is a great player and was my number one target. I am delighted that he has joined us.”
Good signing for West Ham United
The signing of Payet from French giants Marseille is a statement of intent from West Ham.
Payet’s arrival at the Hammers shows that the club are determined to be successful in the coming years and how serious they are about competing with the big teams.
The Frenchman was one of the best players in Ligue 1 last season, helping Marseille finish fourth in the league table.
The former Lille star scored seven goals and created 134 chances in 36 league appearances.
The 28-year-old had a pass accuracy of 80% and a shot accuracy of 47%, and won three headers, 66 dribbles and 17 tackles.