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.
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"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."
