Jean-Philippe Mateta rattled in 16 Premier League goals last season, including nine in the final six games.
He has also scored two for France at the Olympics — one of them in the 1-0 win over Argentina that set up a semi-final against Egypt on Monday.
There is talk of a big move abroad for Mateta but his club could nip that in the bud with a pay rise before the end of the window.
RB Leipzig have previously bid for the striker, 27, and may return with an offer.
Napoli are also eyeing him up as a replacement for Victor Osimhen should he be sold to Chelsea.
But Palace do not want to lose Mateta and they have no replacement plans.
This is set to be a blow to Chelsea as they are hoping Napoli can agree a deal for Mateta to make way for Osimhen's departure.
Mateta joined Palace on loan from Mainz in 2021 and eventually signed permanently in a deal worth around £13million.
He scored just nine in 60 games during his first two seasons at Selhurst Park.
But he showed huge improvement in the 2023/24 campaign, bagging 19 in 39 appearances in all competitions.
Meanwhile, Odsonne Edouard, 26, is also keen on a new deal but the Eagles have yet to start any negotiations.
Exeter want Selhurst forward Roshaun Mathurin, 20, on loan but he is close to Oliver Glasner’s squad.
