After telling the press about the transfer last month, the Nerazzurri have officially snapped up the Argentine striker from the Grifoni on a contract that will run until 2015
Inter director Marco Branca had already revealed the transfer last month, but only now have the Nerazzurri formally announced the deal, after Palacio underwent a medical for the club.
The 30-year-old has signed a contract which will keep him at San Siro until 2015. Palacio, who signed for Genoa from Boca Juniors in 2009, scored 41 goals in 100 league appearances for the Liguria outfit.
The striker has become Inter's second signing of the summer, following in the footsteps of Fredy Guarin, who cost the Italian giants €11 million.