Donovan has signed a professional contract with the Seasiders and will now form part of Stephen Dobbie’s side.
The young midfielder makes the move to Bloomfield Road from League Two side Salford City.
Our best fan pictures from Blackpool's penalty shootout defeat to Barrow
Carabao Cup second round draw details revealed as Everton, Leeds United, Newcastle United prepare to enter the competition
Michael Appleton and Kieran McKenna comment on Richard Keogh's imminent move from Blackpool to Ipswich Town
How Blackpool's players rated during cup humbling at the hands of Barrow
Too early to be making judgements after Blackpool's cup upset, but red flags can't be ignored
"I'm happy to get this sorted and I'm really excited for the future here,” Lescott said.
"My dream has always been to play football at the highest level I can, so I'm hoping to really impress in the development squad here and push on with my career as much as possible."
Lescott will be joined in the development squad by the likes of Luke Mariette, Tayt Trusty, Brad Holmes and Ewan Bange.
It comes after Dobbie was recently put in charge of the club’ newly-founded development squad, which helps bridge the gap between the Under-18 side and the first-team.
The idea is to use the club’s Central League fixtures to also give minutes to players from the Under-18 setup as well as first-teamers in need of game time.
"We have monitored Donovan over the last few years and we are delighted that he has chosen to come and work with us at Blackpool,” academy director Ciaran Donnelly said.
"He is an exciting player who can score goals and drive with the ball at pace.
“He will join up with Stephen Dobbie as part of our development group and we believe we can really help him progress towards our first-team over the next 12-18 months."