The midfielder, who is currently in London preparing to lead his country's Olympic Games campaign, has penned a deal with the Rosanero that will keep him in Sicily until 2015Palermo have announced the signing of Uruguay international Egidio Arevalo from Mexican outfit Tijuana.
The defensive midfielder, who will captain his country in the upcoming Olympics, has penned a three-year contract with the Rosanero and will arrive in Sicily after his participation in the games.
"Palermo announce that they have purchased Egidio Arevalo Rios from Club Tijuana," a brief statement on the club's official website read.
Arevalo, who has been capped 34 times by his country, played a key role in Uruguay's fourth-placed finish at the 2010 World Cup and their Copa America triumph 12 months later.
The 29-year-old, who has enjoyed two separate spells at Penarol during his career, had only joined Tijuana from Botafogo last year.