Thomas Ince has joined Crystal Palace on loan until the end of the season with Stephen Dobbie moving in the opposite direction.
The Seasiders have also announced that Bob Harris has made his move to Sheffield United permanent in a hectic end to transfer deadline day for the club.
Winger Ince was granted permission to speak to Premier League teams this week and he has chosen to join the Eagles.
A club statement said: "Blackpool would like to thank Thomas for his efforts and wish him the best of luck in the future."
Dobbie has penned a loan deal until the end of the season. The 31-year-old has enjoyed three previous loan spells with the club, including the early part of 2013/14.
He will be available for Saturday's trip to Blackburn.
Finally, Harris moved to Bramall Lane last week on loan but will now stay with the Blades permanently.