The 28-year-old Colombia international will join on a three-year deal when the midfielder’s current contract ends at Bournemouth.
Lerma joined Bournemouth from Levante in August 2018 for a club-record fee and soon became a firm fans’ favourite during five seasons, and 184 appearances, with the Cherries.
The 22/23 season was Lerma’s most productive in front of goal yet, scoring five times as Bournemouth retained their Premier League status. He was subsequently named the club’s Player of the Year.
At international level, Lerma has won 33 senior caps for Colombia, and represented his country at both the 2018 FIFA World Cup finals and 2019 Copa América.
Chairman Steve Parish said: “Jefferson is a strong addition to our squad. He is a proven performer at Premier League level, and his combative and competitive nature will endear him to the Palace fans. We look forward to welcoming him to the club on 1st July in preparation for our eleventh consecutive season in the top-flight.”
Lerma said: “I am very happy and excited by this new opportunity. Crystal Palace has good players and a good team, and I want to help with every objective the club has next season.”
Everyone at Palace would like to welcome Jefferson to south London, and wish him the very best for his career in red and blue.