Leeds marked their first game since being bought by GFH Capital by ending Crystal Palace's unbeaten 14-game league run at Elland Road.
Wilfried Zaha was denied a penalty for Palace after a Sam Byram tackle before the visitors failed to clear a cross and Luciano Becchio pounced to score.
Paul Green added a second Leeds goal with a deflected volley.
Peter Ramage headed in late on for Palace but, despite a Michael Tonge goal-line clearance, Leeds held on.
The defeat was the first for Eagles manager Ian Holloway since he took over on 3 November and meant Palace were knocked off the top of the Championship by Cardiff, who beat Barnsley.
Leeds, who ended a run of seven games without a win, started off brightly.
Jerome Thomas, who had been brought in on loan after the Leeds takeover, was a threat before Becchio had an effort saved by Julian Speroni.
At the other end, Zaha was denied by Paddy Kenny, who also produced a double save when he palmed away Jonathan Parr's curler before quickly getting up to close down Glenn Murray.
Zaha thought he should have had a penalty after claiming he was tripped by Byram but it was Leeds who went ahead when Ramage nodded a clearance against team-mate Mile Jedinak and Becchio took advantage.
Another Zaha penalty appeal came to nothing before Leeds extended their lead through Green.
Palace gave themselves hope with Ramage's header but, despite going close following a scramble in the Leeds goalmouth during the five minutes of injury time, failed to find an equaliser.
Leeds manager Neil Warnock:
"I am absolutely delighted for the new owners. We deserved the win over the 90 minutes.
"We started the game very well and had to hang in there at times but our two new lads made the difference. Alan Tate is a good pro.
"He had a calming influence on us at the back and Jerome Thomas is as good as anyone in the Premier League, let alone the Championship.
"We needed the lift in confidence those two have given us."
Crystal Palace boss Ian Holloway:
"You have to give Leeds credit. They looked like the Leeds of old in the first 20 minutes by coming at us.
"We came through that period but didn't get the breaks. I thought we deserved at least a point and we did our supporters proud.
"Leeds got on the end of two things inside our box and scored two goals but there was a real scramble at the end and how the referee awarded Leeds a free-kick to relieve the pressure I don't know.
"The crowd got them that free-kick."
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Live Text Commentary
Full Time The referee blows his whistle to end the game.90:00 +3:50
Kagisho Dikgacoi gives away a free kick for an unfair challenge on Tom Lees. Direct free kick taken by Patrick Kenny.90:00 +2:52
Inswinging corner taken by Andre Moritz, clearance by Lee Peltier.90:00 +2:52 Substitution
Substitution (Leeds) makes a substitution, with Michael Brown coming on for Dominic Poleon.90:00 +1:47
Wilfried Zaha fouled by David Norris, the ref awards a free kick. Andre Moritz crosses the ball from the free kick left-footed from left channel, clearance made by Luciano Becchio.90:00 +0:26
Andre Moritz takes a outswinging corner to the near post, Luciano Becchio manages to make a clearance. Kagisho Dikgacoi has an effort at goal from outside the box which misses left.90:00 +0:26 Substitution
Substitution Aaron Wilbraham joins the action as a substitute, replacing Joel Ward.87:10
Ross McCormack produces a right-footed effort from long distance that goes harmlessly over the bar.86:48
Lee Peltier takes the free kick.86:48 Booking
Booking Glenn Murray goes into the referee's book.86:42
Ross McCormack fouled by Glenn Murray, the ref awards a free kick.85:24
The assist for the goal came from Kagisho Dikgacoi.85:24 Goal scored
Goal! - Peter Ramage - Leeds 2 - 1 C Palace Peter Ramage grabs a headed goal from close range. Leeds 2-1 Crystal Palace.84:35
Andre Moritz takes a outswinging corner from the left by-line played to the near post.83:28
Headed effort from inside the area by Jermaine Easter misses to the left of the target.81:31 Substitution
Substitution El-Hadji Diouf leaves the field to be replaced by Ross McCormack.79:51
Foul by Dominic Poleon on Glenn Murray, free kick awarded. Strike on goal comes in from Andre Moritz from the free kick.78:59
The ball is swung over by El-Hadji Diouf, save by Julian Speroni.78:31
El-Hadji Diouf takes a short corner.77:04
Direct free kick taken by Andre Moritz.
Booking Michael Tonge is shown a yellow card for unsporting behaviour.76:52
Michael Tonge concedes a free kick for a foul on Andre Moritz.75:01 Goal scored
Goal! - Paul Green - Leeds 2 - 0 C Palace Goal scored by Paul Green from inside the penalty area to the bottom left corner of the goal. Leeds 2-0 Crystal Palace.74:23
Kagisho Dikgacoi concedes a free kick for a foul on David Norris. Alan Tate takes the direct free kick.74:23 Substitution
Substitution Dominic Poleon is brought on as a substitute for Jerome Thomas.73:37
Shot by David Norris from outside the box goes high over the crossbar.72:52
Unfair challenge on El-Hadji Diouf by Andre Moritz results in a free kick. Alan Tate takes the direct free kick.71:34
Free kick awarded for an unfair challenge on Wilfried Zaha by Lee Peltier. Direct free kick taken by Andre Moritz.70:49
The offside flag is raised against Jermaine Easter. Patrick Kenny restarts play with the free kick.70:09
Foul by Luciano Becchio on Mile Jedinak, free kick awarded. Damien Delaney takes the direct free kick.67:03 Substitution
Substitution (Crystal Palace) makes a substitution, with Jermaine Easter coming on for Yannick Bolasie.65:50
Effort from outside the penalty area by Michael Tonge goes wide left of the target.64:25
The free kick is delivered right-footed by El-Hadji Diouf from right channel, clearance made by Peter Ramage.64:25 Substitution
Substitution Andre Moritz comes on in place of Owen Garvan.64:25
Damien Delaney challenges Luciano Becchio unfairly and gives away a free kick.62:11
Unfair challenge on Wilfried Zaha by El-Hadji Diouf results in a free kick. Jonathan Parr restarts play with the free kick.56:48
Inswinging corner taken by Yannick Bolasie from the left by-line, clearance made by Luciano Becchio.55:00
Yannick Bolasie crosses the ball, save made by Patrick Kenny.54:15
Free kick awarded for an unfair challenge on Owen Garvan by David Norris. Direct free kick taken by Julian Speroni.53:50
Mile Jedinak concedes a free kick for a foul on Luciano Becchio. Lee Peltier restarts play with the free kick.53:12
Jonathan Parr has an effort at goal from outside the area missing to the wide left of the goal.51:25
Assist on the goal came from Paul Green.51:25 Goal scored
Goal! - Luciano Becchio - Leeds 1 - 0 C Palace Luciano Becchio scores a goal from inside the six-yard box to the top left corner of the goal. Leeds 1-0 Crystal Palace.49:23
Joel Ward produces a right-footed shot from just outside the penalty box that misses to the left of the target.46:39
Foul by Kagisho Dikgacoi on David Norris, free kick awarded. Lee Peltier takes the direct free kick.46:05
Inswinging corner taken by Yannick Bolasie.45:01
The match restarts for the second half.45:00 +1:10 Half time
Half Time The whistle is blown to end the first half.45:00 +0:15
Corner taken short by Yannick Bolasie, clearance by Paul Green.43:21
Glenn Murray fouled by Tom Lees, the ref awards a free kick. Mile Jedinak restarts play with the free kick.42:50
Luciano Becchio has an effort at goal from long range that misses to the right of the target.38:30
Samuel Byram delivers the ball.34:10
The ball is crossed by Jerome Thomas.33:10
Yannick Bolasie produces a cross.32:19
Unfair challenge on Wilfried Zaha by Samuel Byram results in a free kick. The free kick is swung in left-footed by Owen Garvan, Lee Peltier makes a clearance.30:51
Inswinging corner taken left-footed by Owen Garvan, Damien Delaney has a headed effort at goal from deep inside the area missing to the left of the target.30:21
Jonathan Parr takes a shot. Save by Patrick Kenny. Glenn Murray takes a shot. Patrick Kenny makes a save.28:07
El-Hadji Diouf challenges Jonathan Parr unfairly and gives away a free kick. Free kick taken by Julian Speroni.27:01 Booking
Booking The referee cautions Damien Delaney for unsporting behaviour.26:38
Corner taken short by Wilfried Zaha.24:24
Free kick awarded for an unfair challenge on Alan Tate by Glenn Murray. Alan Tate takes the free kick.23:42
The ball is swung over by El-Hadji Diouf, save made by Julian Speroni.21:53
The referee blows for offside against Luciano Becchio. Julian Speroni takes the indirect free kick.20:09
Kagisho Dikgacoi fouled by Luciano Becchio, the ref awards a free kick. Owen Garvan takes the free kick.18:08
Owen Garvan takes a shot. Patrick Kenny makes a save.17:04
Corner taken by Owen Garvan, Luciano Becchio makes a clearance.15:44
Jerome Thomas has an effort at goal from just outside the area which goes wide of the left-hand post.14:11
Free kick awarded for a foul by Jerome Thomas on Joel Ward. Free kick taken by Damien Delaney.13:05
David Norris takes a shot. Save made by Julian Speroni. Short corner taken by Jerome Thomas.12:10
Free kick awarded for an unfair challenge on David Norris by Owen Garvan. Tom Lees takes the direct free kick.11:15
Joel Ward takes a shot. Save by Patrick Kenny.7:40
Foul by Owen Garvan on David Norris, free kick awarded. Direct free kick taken by Tom Lees.7:23
Luciano Becchio takes a shot. Julian Speroni makes a save.5:42
Jonathan Parr produces a cross.4:02
El-Hadji Diouf decides to take a short corner.2:38
David Norris takes a shot. Save made by Julian Speroni.0:00
The referee starts the match.
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