Benitez's contract with PSV is set to expire this month, and he has chosen not to renew it. Instead, he will join Crystal Palace, who won the FA Cup last season.
Benitez will serve as backup to the team's first-choice goalkeeper, Dean Henderson. Meanwhile, Matt Turner is on the verge of a transfer to Olympique Marseille, and Owen Goodman is expected to join Huddersfield on loan.
During his time at PSV, Benitez was unbeaten in all of his appearances, helping the team win the championship last season.