Emmanuel Adebayor, 31, has been out of work since he agreed to cancel his contract at Tottenham Hotspur in September.
The Togolese forward, who has played for Arsenal and Manchester City during his career, has been linked with a switch to Selhurst Park in the last few weeks.
According to Sky Sports News, Adebayor has signed a deal until the end of the season with the Eagles, who have not found the back of the net in their last six Premier League games.
In three seasons at Tottenham, Adebayor scored 18 Premier League goals.
By Taiwo Oyedeji
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