Ian Holloway has agreed to become the new Crystal Palace manager.
Holloway will leave Blackpool to take over the reins at Selhurst Park after signing a four-and-a-half year deal. Keith Millen will also join the club as assistant manager.
The former Queens Park Rangers boss is to fill the void left by Dougie Freedman, who departed for Bolton Wanderers last week.
The south London club are currently riding high near the top of the Championship in fourth place, with Curtis Fleming set to look after the team for their match against Blackburn on Saturday. Former Palace caretaker manager Lennie Lawrence left to reunite with Freedman at Bolton on Thursday.
Holloway, who will be in attendance at the Blackburn game, is delighted to have accepted a new challenge.
"This is a fantastic opportunity for myself and a fresh start," he told the club's official website.
"It is sad to leave Blackpool as my time there was the best trip I have been on and I leave very proud of what was achieved and I would like to wish them all the best. I just see this as too good an opportunity to turn down.
"I got great energy when I met the club's owners and just can't wait to get going. I am bringing in Keith Millen as my assistant who is a Croydon boy and he is as excited as I am about the opportunity."
Palace co-chairman Steve Parish added: "The board and staff of Crystal Palace are delighted to welcome Ian to south London.
"He's a manager I have long admired and one I believe will bring something fresh and new to our club. I am sure the supporters will be as excited about this appointment as I am and will get fully behind him."
Palace will be hoping that Holloway can repeat his success of guiding Blackpool to the Premier League in 2010. He also led the club to the last season's Championship play-off final, only to be defeated by West Ham.
Steve Thompson will take charge of first-team affairs at Blackpool until further notice, starting with Saturday's game against Derby County.