The 29-year-old spent time away from St James’ Park back in his homeland at AZ Alkmaar last season and has now agreed to another stint away from the Magpies.
This switch will, however, keep him in the Premier League with a club promoted alongside Newcastle in 2016-17.
Brighton are delighted to have got another proven performer on board, with Krul set to compete with Mathew Ryan and Niki Maenpaa.
Seagulls boss Chris Hughton told the club’s official website on the deal: “I know Tim from my time at Newcastle and he is an excellent professional that has a vast amount of experience at both club and international level.
“He’s played an extensive amount of games in the Premier League, as well as playing in the Europa League and his experience will also help benefit the other keepers in the squad.”
Krul was part of the Newcastle side which secured the Championship title under Hughton in 2010 and has made 185 appearances for the Magpies to date.