Iwobi returned to Everton’s first team line-up in their 3-2 win against Watford at Vicarage Road last Saturday.
Everton took the lead in the 18th minute through Bernard before Christian Benteke equalised on 51 minutes for Palace.
Seven minutes after Benteke’s equaliser, Everton went 2-1 up through Richarlison.
And with two minutes remaining in the game, Dominic Calvert-Lewin made it 3-1.
Everton are now unbeaten in their last five Premier League games, three wins and two draws.
The Toffees are now seventh on 36 points in the league table, five points away from fourth position.