The 33-year-old defender has put pen to paper on a new one-year deal and will remain at the club for the 2015-16 season.
The former Norway international has been on the books of Premier League outfit Palace since the summer of 2014, when he joined on a free transfer after leaving London rivals Fulham.
The former Copenhagen star was not a regular for the Eagles in the recently concluded 2014-15 season, but he played his part when called upon.
In 14 Premier League appearances, Hangeland scored two goals, created four chances, had a pass accuracy of 78%, and won 46 headers, two dribbles and nine tackles.
The veteran is unlikely to be a first-choice defender in the 2015-16 campaign, but his experience will be important for Alan Pardew’s side as the season progresses.
Following the announcement of Hangeland’s contract extension, former Palace forward Bright posted the following message on Twitter: