The 26-year-old scored 31 goals for promoted League One side Leeds United last season before being released from his contract at Elland Road.
A former Chelsea youngster, Beckford hit the headlines last season by scoring to knock Manchester United out of the FA Cup at Old Trafford.
GEAR:Check out Everton clothing range
"I'm looking forward to it very much and I wish the season was starting tomorrow!" he told the club's official website.
"It's going to be a test, I know that, but I am looking forward to it. I want to test myself at the highest level and luckily for me, David Moyes showed an interest in me, showed some faith in me and hopefully I can repay that.
"I've been fortunate enough to score goals at all the clubs that I've been at and hopefully I'll be able to do that here as well. I hope I'll be able to hit the ground running."
"Everton's a club that I think I can learn from and it can help me develop into a better player. Fingers crossed, I can be really involved in taking this club where it wants to be."
‘Sir Alex told Van Persie to watch my goal back at Anfield for some shooting tips! It was a beautiful goal, though. It’s a shame that I didn’t do it more often’: Manchester United cult hero recalls stunning strike against Liverpool
‘So many times when we played Manchester United, arguments would start before the first whistle had even blown – the players would try to kill each other with their eyes’ Former Arsenal star remembers famous Premier League rivalry
