The 26-year-old joins Pompey for an undisclosed fee from Italian side Bari and has signed a three-year contract with the Championship side.
“It was a difficult time for me in Italy and now I’m looking forward to playing in England,” Huseklepp told the club’s official website. “It’s a dream for me to play here.
“I found out Pompey were interested in me a few weeks ago and I was excited straight away.
“I know that before they got relegated they were in the Premier League for seven consecutive seasons and they are still a big side.
“The manager showed that he really wanted me here. He’s seen me play and liked what he saw – that’s really important.
“Now I want to show what I can do and prove myself at Portsmouth. I hope I can contribute to helping the club win games. I will work hard to make that happen.”
Pompey boss Steve Cotterill added: “He’ll bring pace to the team and he’s got an eye for goal. He can play up top or out wide and he’s a good, calm finisher.”