The 19-year old midfielder, who progressed through the youth academy ranks with the Eagles, has put pen to an extension which will see him remain in south London until at least the summer of 2017.
Boateng has made two senior appearances for Palace, both in the FA Cup, and is now hoping he can build on that as he continues his develop under Alan Pardew in the Eagles first team.
"We've been talking about things since December and it got sorted out last week," the former Crawley Town loanee told the club's official website.
"I spoke to (Alan Pardew) quite a bit, I've had a few sessions with the first team and he came to watch some of our development games at Tooting and Mitcham.
"He said he liked what he saw and he wants me to kick on and get some more aspects to my game.
"It's great being in and around the first team and it's good watching that level of players and seeing how they cope in a Premier League game. It's what I want to be doing soon."
Hiram Boateng (@Hiram_8) March 25, 2015
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