The newly-promoted Premier League club will pay an initial 27 million euros for the 20-year-old, with the deal potentially rising to 30 million euros through performance-related add-ons.
The transfer is also a record sale for Scandinavian football, surpassing the 25 million euros Nordsjaelland received from Lyon for Ernest Nuamah in 2023.
Yirenkyi has signed a long-term contract at Coventry and will now join Frank Lampard's squad ahead of the club's return to the Premier League.
The midfielder has enjoyed a rapid rise since moving from Ghana's Right to Dream Academy to Nordsjaelland in 2024. He made his senior debut against Viborg in September that year before becoming a permanent member of the first team in February 2025.
Yirenkyi made 56 senior appearances for the Danish club, scoring four goals and providing eight assists. His performances earned him the Danish Superliga Young Player of the Year award for the 2025/26 season.
His form also brought international recognition. Yirenkyi scored against Wales in a pre-World Cup friendly before producing a stoppage-time winner against Panama in Ghana's opening game of the 2026 FIFA World Cup.
He played in all four of Ghana's matches as the Black Stars reached the round of 32.
Lampard was heavily involved in Coventry's pursuit of Yirenkyi, with the midfielder revealing that conversations with the former England international helped convince him to move to the club.
"When I spoke to the Head Coach about the plans and the style, it's something I really like, and I look forward to learning from him," Yirenkyi said.
"I want to give my best to the team each and every day. I'm still young so I want to learn from the Head Coach, the other players and work really hard for the team."
Yirenkyi becomes the fourth Coventry signing to break the club's transfer record this summer, following Aurele Amenda, Loum Tchaouna and goalkeeper Carl Rushworth.
The signing underlines Coventry's ambition after securing promotion to the Premier League for the first time in 25 years.
Lampard's side will begin their Premier League campaign away to reigning champions Arsenal at the Emirates Stadium on August 21.
