Gosling has been out since October, when he suffered an ankle problem in a Reserve team game at Aston Villa.
And the 23-year-old – who was once decribed by Stuart Pearce as "the next Newcastle player to play for England" – is now officially back in Alan Pardew’s first-team squad.
After much hype suggesting he would play in the Ukraine, Gosling was an unused substitute in last week’s 1-0 Europa League win over Metalist Kharkiv.
Rolando Aarons marked only his second appearance at Under-21 level with a goal after coming off the bench.
Newcastle went behind to an early strike from Aaron Wilbraham. But pacy striker Adam Campbell put United back on level terms at the half-hour mark with deflected shot.
Sullay Kaikai put Palace back ahead before the break, but Aarons, a half-time substitute, levelled seven minutes from time with a fine right-footed shot.
Campbell had a 90th-minute strike controversially ruled out for offside.
Reserve-team manager Willie Donachie also gave run-outs to Shane Ferguson, James Tavernier and Romain Amalfitano.
NEWCASTLE UNITED: Mitchell, Nicholson, Desmond (Aarons, 46), Logan, Tavernier, Streete (Quinn, 61), Amalfitano, Miele, Campbell, Gosling (Olley, 79), Ferguson. Subs not used: Woodman, McKinnon.