Whereas some of these last-gasp moves ultimately failed to pay off for the clubs involved, there have been a fair share of success stories over the years.
Manchester United's decision to sign Wayne Rooney in 2004 ultimately led to an era of success at Old Trafford.
The former England international managed to find the back of the net on 253 occasions as he helped his side win five Premier League titles.
Another superb bit of deadline day business occurred during the 2011 January transfer window as Liverpool opted to replace Fernando Torres with Luis Suarez.
Before sealing a switch to Barcelona, the Uruguayan forward set the top-flight alight with his stunning attacking displays as he provided 108 direct goal contributions in 110 appearances for the Reds in this division.
Whilst these two players will go down in Premier League history for the impact that they were able to make at this level during their respective spells with United and Liverpool, there have been plenty of individuals who have ultimately failed to live up to expectations.
With the current summer transfer window set to close on Tuesday, we have decided to test out your football knowledge with our latest GIVEMESPORT quiz.
Did these 20 players sign for their respective Premier League clubs on deadline day?
Get involved below and then share your scores with fellow football fans!