Love will stay on loan at the Brazilian side until the end of the season.
The 25-year-old has been linked with a move to Lyon in the past.
He told Globoesporte: “I opted for Palmeiras for the affection I have for everyone here, especially for the fans.”
“I have to do my work for Palmeiras and then think about an opportunity in the national team. But yes, I plan to be in the World Cup,” he added.