The transfer window, which opened on June 14th before closing on September 1st, exceeded last year's record £1.92 billion, with the top-flight clubs spending £255 million pounds on deadline day alone, it said.
Premier League clubs are responsible for 48% of the total spending across Europe's top five leagues, which include Spain's La Liga, Serie A of Italy, Germany's Bundesliga and the French Ligue 1.
"A second successive summer of record spending by Premier League clubs suggests that year-on-year revenue growth could return following the pandemic," Tim Bridge, lead partner in Deloitte's Sports Business Group, told the BBC.
"Nearly three-quarters of Premier League clubs (14) spent more this summer than the last, reflecting the increased intensity of competition.
"There continues to be pressure on clubs to acquire top talent to satisfy their on-pitch objectives, whether that's qualifying for European competition or simply maintaining their position in the Premier League."
Chelsea has spent more than $1 billion (£800 million) in transfer fees since the new ownership led by American Todd Boehly and Clearlake Capital completed their takeover of the club in May 2022.
The London-based club broke the British transfer record for the second time in a year by signing Ecuador midfielder Moises Caicedo for a reported £115 million, eclipsing the record £106 million they paid to sign midfielder Enzo Fernandez in January.
Champions Manchester City signed winger Jeremy Doku for £55 million last month, having brought in defender Josko Gvardiol for £77 million and midfielder Mateo Kovacic for £25 million earlier.
City's final signing in the transfer window was midfielder Matheus Nunes from Wolverhampton Wanderers for £53 million.
Last season's runners-up Arsenal splashed out £65 million on forward Kai Havertz, followed by £105 million on England midfielder Declan Rice, while Manchester United spent £72 million on striker Rasmus Hojlund.
Newcastle United, who finished fourth last season, brought in midfielder Sandro Tonali for £55 million and winger Harvey Barnes for £38 million.
Nottingham Forest, who finished 16th last season, signed as many as seven players on deadline day.
