The duo came off the bench and combined to give the Three Lions a Euro 2024 final spot.
Watkins scored in the 90th minute to ensure England emerged with a 2-1 win over Netherlands in the semi-final, with Palmer getting the assist.
“Unbelievable,” he told ITV after the final whistle.
“I’ve been waiting for that moment for weeks. It’s taken a lot of hard work to get where I am today, grateful that I got the opportunity and I grabbed it with both hands. I’m delighted.”
Watkins then revealed: ”I swear on my life, I swear on my kids’ life, I said to Cole Palmer: 'We’re coming on and you’re going to set me up today'. And that’s why I was so happy.
"I knew as soon as he got the ball he was going to play me and then you’ve got to be greedy: touch and finish. And when I seen it go in the bottom corner… oh my life. Best feeling ever.”