The 37-year-old striker, who won eight England caps, has scored 254 goals in 561 career appearances and is relishing the challenge with Ian Holloway's side.
The former Watford, Sunderland, Southampton, Aston Villa and West Brom forward has joined the Seasiders in Portugal for their pre-season training camp.
He told the club's official website: "I did a fair bit of work last year for Sky television watching Blackpool when I was commentating.
"Like everyone else in the country, I enjoyed watching Blackpool play and creating chances. It was exciting to watch and Ian Holloway is an infectious manager. That was certainly a major factor in me wanting to join Blackpool.
"I've scored many goals in my career and I still believe I've got many in me. Hopefully I can get on the end of a few of those chances that we create."