The Argentinian keeper would have been out of contract in the summer, but has now signed a three-year contract.
Speroni has been a key part of the Palace side this season, following the summer departure of previous number one Gabor Kiraly.
"I am delighted after all the talking and negotiations to have finally agreed a new three-year deal," Speroni told the official website.
"When Gabor was here I had to wait for my chance which was difficult because he is a great keeper and he was playing very well at the time. But I got my chance this season and I am enjoying it very much.
"We are all very happy with the manager and he is very happy with the players - he has a great plan for this club and I am glad he wants me to be a part of it."