The 22-year-old becomes the Eagles' third summer signing and has signed a three-year contract at Selhurst Park.

Meyer has been capped four times by Germany, but was not part of their 2018 World Cup squad.

"I'm proud to be here and I hope I can make the next step in my career," he said.

Meyer came through Schalke's youth system, going on to score 22 goals and provide 24 assists in 192 appearances.

He started 21 games last season as Schalke finished 21 points behind champions Bayern Munich and has also featured in three Champions League campaigns.

After making his full international debut in 2014, he also helped his nation win the silver medal at the Rio 2016 Olympic Games.

Palace, who have also signed Getafe keeper Vicente Guaita and West Ham midfielder Cheikhou Kouyate, finished 11th in the Premier League last season.