Garrad, 17, and Pearse, 18, play in midfield and defence respectively and join Palace’s first-team as the Eagles sit eighth in the FA Women’s Championship.
They follow Kirsty Barton as recent additions to the squad.
Commenting on the two signings, manager Dean Davenport said: “I am delighted we have added to our squad with two young signings of real quality. Grace and Gracie have great futures ahead of them and I am proud that Crystal Palace will play a part in those.”
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