Mbia, who represented Queens Park Rangers earlier in his career, has been playing outside of England since 2013 with Sevilla, but he is hoping for a return to the country in the coming weeks.
The Cameroonian is looking for further security, as he is only on a short-term contract with the La Liga side, and Everton and Palace are believed to be amongst the clubs interested in securing his signature.
The Premier League duo are looking to strengthen their options and climb up the table, after disappointing starts to the season.
The Toffees have been in dire form and Mbia's versatility and energy is something that appeals to Roberto Martinez.
Palace, meanwhile, have funds to spend under new manager Alan Pardew and feel Cameroon international man could be a bargain addition.
Mbia's time at QPR was disappointing, but he feels that his full talent wasn't on display and he will return to the Premier League with a point to prove if he does complete a move.