Aberdeen are believed to have received £400,000 with add-ons including a sell-on clause and appearance-related payments.
None of these would have been possible if the club had allowed Fraser to leave after the season ended, as the 18-year-old's contract runs out in July and could have left Pittodrie for a compensation fee of around £250k with no add-ons.
Ryan Fraser made 23 appearances in two-and-a-half seasons with the Dons, scoring no goals.
But the player showed flashes of brilliance this season, winning back-to-back SPL Young Player of the Month awards after repeated media exposure.
Pittodrie chief executive Duncan Fraser said: "Right from the start we indicated that we had no desire to see Ryan move and that if it were to happen, a bid well above the training compensation fee due in the summer and with add ons would need to be forthcoming.
"Following detailed negotiations AFC Bournemouth came back with an offer that was acceptable to the club."
He added: "It is worth pointing out that eight young players have signed contract extensions over the last few weeks and we remain absolutely committed to youth development as the way ahead for this club, understanding that along the way some players will choose to move on at the end of their contracts."
It is now thought that the Dons will recall forward Peter Pawlett from his loan spell at St Johnstone to replace Fraser as the Reds look to claim a European place in the second half of the SPL season.