Emenike, 24, signed the contract reportedly worth around 7 million euros on Wednesday, to end speculation about his future.
The fee will rise to 9 million euros if Emenike moves from Fenerbahce.
The Nigerian joined Karabukspor from FC Cape Town in 2009. He scored 16 goals to help the club not only to secured promotion to the Turkish Super Lig, but also claimed the first division title.
He also picked up the award for the best foreign player.
His 14 goals in his first season in the Turkish Super Lig was enough to see his stock rise, with admiring glances coming from as far as Germany, Italy and France.
But the Nigerian has opted to remain, in Turkey, where he will join international skipper Joseph Yobo at the Istanbul giants.
This has been viewed by some soccer pundits as a good move will some querried why he chose to remain in Turkey when the likes of Marseille were very much interested in his services since the Lique 1 is higher than the Turkish league.
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