The Australian midfielder, who impressed during the Asian Cup, will fulfill his ambition of playing in England after agreeing a deal with the Championship club
Jedinak, 26, has put pen to paper on a three-year deal with the Eagles subject to a work permit.
The Socceroo was available on a free transfer after leaving Genclerbirligi following a two-and-a-half year spell in Turkey.
"I am delighted to be joining Crystal Palace Football Club at this stage in my career," Jedinak told the team's official website.
"I am impressed by [manager] Dougie Freedman and what he wants to achieve at the club and I cannot wait to get started.
"Crystal Palace have a fantastic heritage and a wonderful set of fans and I am looking forward to playing in front of them at Selhurst Park.
"Playing in the UK has always been an ambition of mine and I am totally determined to make my time here an absolute success."
Jedinak, who scored two goals for the Socceroos at the 2011 Asian Cup, had been recommended to Palace boss Freedman by the club's Australian assistant coach Tony Popovic.
"I am absolutely delighted with this signing. I have tracked Mile for some time since he was first brought to our attention by Tony Popovic and his contacts in Australia," Freedman said.
"Mile has a fantastic international pedigree and I know he will be a huge success at the club. Mile attracted attention from a number of clubs and I am so pleased that he finally chose Crystal Palace."