Palace have completed the signing of striker Jon Macken from Manchester City for an undisclosed fee.
The 27-year-old has inked a four-year contract with the Eagles after being told he did not feature in the plans of City boss Stuart Pearce.
Macken cost City £5m when Kevin Keegan bought him in 2002, but Palace are believed to have signed the player for less than £1m.
"I was very disappointed to be told by Stuart Pearce I would not figure highly in his plans for next season," Macken said.
"But I need to be playing regularly and having spoken to a few clubs, I was most impressed by Crystal Palace and in particular the manager [Iain Dowie] and chairman [Simon Jordan].
"They both have a reputation for being ambitious men and I was left in no doubt by either of them that a return to the Premiership was the only aim they had for this season."
"Palace were unlucky to be relegated last year and I'm looking forward to the chance to take them back up again."