The Toffees have been busy through the summer transfer window, with the likes of keeper Jonas Lossl, defender Djibril Sidibe, midfielders Andre Gomes, Fabian Delph and Jean-Philippe Gbamin, and striker Moise Kean already through the door before Iwobi's arrival. With Everton getting a deal over the line for the Gunners starlet on deadline day, Silva feels the club have secured a real talent, who should get the fans on their feet at Goodison Park this season.
"Alex was one of our main targets for this window and I believe he is a fantastic signing. He is a direct and skillful winger and attacking midfielder, who always works very hard," the Everton boss said.
"He is still young but already with a lot of top-level experience - 100 Premier League matches, more in Europe and many international games.
"Alex fits exactly the profile of player I want. He is hungry to join Everton and take the next step in his career, to help us compete with the strongest teams in the league and reach his potential at our club."
Everton have previously been somewhat limited in who they could move for in transfer windows gone by, but this summer has been a real statement from the Merseysiders.
With seven new faces at the club, Silva has been allowed to stamp his imprint on the side, having previously shown frustration at the financial restrictions at the club.
Silva will now be looking to end Everton's wait for European football and the real work starts on Saturday when the Toffees make the trip to Selhurst Park to face Crystal Palace for their opening Premier League game of the season.