The 19-year-old joined Palace aged 13 and went on to help the Under-21s lift the Premier League International Cup in 2023/24.
Jemide represented the first team on pre-season tours of the United States, Austria and Como.
He made 20 appearances for the U21s last season, helping the Young Eagles reach the quarter-finals of both the Premier League 2 play-offs and International Cup.
Everyone at Crystal Palace wishes Mofe the very best for his future career.