The youngster put pen to paper on the day after his 17th birthday, and is now contracted to the club until 2010.
Moses was a star in this year's U-17 World Cup, scoring three goals as England reached the quarter-finals.
He recently made his debut for Palace in the away game at Cardiff and now wants to establish himself in the team on a regular basis.
"Signing a contract for Palace is a perfect Christmas present," said Victor. "I now have to work hard and get into the first team regularly."