Palace were thought to have already secured a pre-contract agreement to sign Vicente Guaita from Getafe on a free transfer this summer, although new rumours of a potential 'get out clause' suggest that deal is not necessarily complete.
But the Eagles currently lack immediate goalkeeping cover as a result of Julian Speroni's injury, leaving 20-year-old Dion Henry as the only back-up to Wayne Hennessey.
"I am very happy to be here and have been training with the guys for some time now. The atmosphere in the dressing room has been really good and they have received me very well so we can talk a lot and get to know everyone. I am very happy with this opportunity," Cavalieri said.
The arrival of 35-year-old, who was released by Fluminense at the end of the Brazilian season in December, has previously worked with Palace manager Roy Hodgson, albeit briefly.
Having joined from Palmeiras in 2008, Cavalieri was at Liverpool when Hodgson was hired at Anfield in 2010. But having never made a Premier League appearance as a back-up to Pepe Reina, the Brazilian joined Cesena in Italy not long after the new manager had assumed control.
Cavalieri has played three times for Brazil at senior international level, earning his first cap in 2012 after his impressive form for Fluminense in their title winning season that year.