The 21-year-old arrived at Selhurst Park on transfer deadline day following a frustrating 18-month spell at Tottenham Hotspur.
Fryers made just seven league appearances for Spurs after joining from Standard Liege in January 2013, but he is now keen to resurrect his career with Palace.
"I heard that certain clubs were interested, but I knew Crystal Palace were the best club for me at this time of my career," he told the Eagles' official website.
"It came out of nowhere, but I am absolutely buzzing to be here. It is a fresh start for me now and I can't wait to get out on the training pitch and show what I can do."
Fryers joined Palace on a three-year deal for an undisclosed fee.