As announced on the Magpies’ official website, the 25-year-old striker has signed a five-year contract.
Bannan, who played with the striker at Palace, is pleased to see Gayle join Rafael Benitez’s side in the Championship.
Good luck to @dwightgayle will be missed on and off the field— James Mcarthur (@jamesmcarthur16) July 1, 2016
Gayle scored three goals and created eight chances in 16 Premier League appearances for Palace during the 2015-16 season.
During the 2014-15 campaign, the former Peterborough United striker scored five goals and created 16 chances in 25 league matches for the Eagles.
Back in 2013-14, Gayle scored four goals and created two chances in six Premier League games for Palace.
Newcastle got relegated from the Premier League at the end of the 2015-16 campaign and will feature in the Championship next season.