I have a CSV file in which some fields contain values greater than 255 characters. I want to ask that wether joining the CSV file with a shapefile overcomes the 255 character limitation of shapefile and displays the data in CSV completely. If not, then what is the solution for it?
As commented by @Vince:
To workaround the this limit you will either need to
leave your shapefile joined with the csv
as suggested by @Joseph, assuming that displaying it is all you need to do.
However, if you need to store the more than 254 character field in a feature class then I think using a file geodatabase (as suggested by @GISGe) instead of a shapefile will be your best option.