The 18-year-old full-back was officially a free agent following his release by Crystal Palace at the end of last season.
Caprice was first identified by Tangerines' boss Ian Holloway during a development squad match against Manchester United.
"I'm delighted to be here. I'm really happy that I've got things sorted and that I've got a new challenge in front of me," Caprice told the club's official website.
"I'm a right-back, who loves to get forward and overlap and get in attacking positions, but I like to defend as well and it's important not to neglect that side of my game.
"I'm still young and I've got plenty to learn, but I watched a lot of Blackpool in the Premier League and there are plenty of good, young players here, so I think it's the perfect place for me to learn my craft."