The midfielder has arrived at Selhurst Park on a four-year deal for an undisclosed fee and becomes the newly promoted side's fifth signing ahead of their return to the Premier League.
Campana made his debut for Sevilla in 2011 but completed just 20 appearances for Unai Emery's side.
However, his performances for the club's B team and for his national Under-20s attracted interest from around Europe, and he has now opted for a move away to gain regular first-team football.
Palace manager Ian Holloway believes that the 20-year-old has the ability to fill the void left by Wilfried Zaha's departure to Manchester United, and he cannot wait to see him in action.
"I’m absolutely delighted," Holloway told the club's official website. "Everybody knows the way I want to try and play football and how fantastic Spain have been over the past few years, so I’m delighted to get a lad of this quality.
"I think he’s a fantastic player, his maturity is unbelievable, and the way he plays the game is the way I believe it should be played. He’s going to be a great star of the future and the present.
"We’re going to try and do as well as we can in this division and making signings like this is really going to help us."
Campana admitted that the lure of the Premier League had been too much to resist.
"I’m delighted to become a Crystal Palace player," he said. "Over the last two years, I’ve had some problems with my hometown club, but I’m really excited to play in the Premier League.
"I think it’s a good step for me and I’m really excited and looking forward to meet all the boys and start as quickly as possible.
"I got the first interest through my agent, who said that Crystal Palace were interested and straight away I said ‘yes’ because for me it was a dream to play in England, especially in the Premier League. I hope to help the team stay in the league and then move forward.
"What I like to think are my best qualities are to keep the ball and to have good distribution. I have always been a typical Spanish midfielder and I like to move forward and score goals.
"I scored a lot of goals when I was in the academy at Sevilla. That’s what I want, but especially to keep the ball and to organise the team.”comments