The Italian playmaker has joined the Sicilian outfit on a permanent transfer and has signed a contract until June 2015.
The 33-year-old, who made just three appearances for Samp this season, said on Palermo's official website: "I'm here to give my contribution and help Palermo gain promotion to Italy's top flight.
"I'm going to work hard and I hope this new adventure goes well for me.
"Palermo are doing very well and we have to continue."
Palermo lead the Serie B standings with a one-point advantage over Empoli after 21 games played.