Palacio has been very impressive so far this season, scoring three goals to send the Grifone top of the table.
"I share this wonderful moment with everyone, starting from my family and teammates," said Palacio, who hadn't been called up for three years.
"A lot of the credit for this goes to my Genoa colleagues. I'm very proud. I have never met Coach Alejandro Sabella personally, but I thank him for this show of faith.