The former England international has also suggested that Palace should not sign Charlie Austin from Queens Park Rangers.
“Would someone like Charlie Austin, who is reported to have turned Palace down in the summer, offer them more cutting edge?” Sutton told BBC Sport.
“Possibly in terms of goalscoring. But I think, in terms of his all-round game, Connor Wickham has offered plenty this season.
"Wickham hasn't scored many goals yet but I've been really impressed with his hold-up play and bringing others into play with Palace set up to counter attack. He looks a handful and I think we will see him get better.”
Austin has struggled with injuries this season, but he remains one of the best strikers in the Championship.
The former Burnley star has scored 10 goals and created 17 chances in 16 league matches for QPR so far this season.
The Englishman has a pass accuracy of 63% and a shot accuracy of 49%, and has won 53 headers, nine dribbles and 13 tackles.
Wickham, who can play as a striker or as a winger, joined Palace from Premier League rivals Sunderland in the summer of 2015.
The 22-year-old has scored one goal and created six chances in nine league appearances for the Eagles so far this season.
The former Ipswich Town man has a pass accuracy of 67% and a shot accuracy of 36%, and has won 23 headers, four dribbles and six tackles.