Hunt has been on loan at Hillsborough for the entirety of the season so far, and he has impressed.
The full back has been a regular feature in Carlos Carvalhal’s side, and Wednesday are reportedly eager to make his loan move a more permanent one.
Palace, though, are determined not to lose the defender on the cheap - and will only sell him if Wednesday submit a big bid in January.
The Owls also face the prospect of sparking a bidding war, if they attempt to sign the 25-year-old.
A clutch of Championship teams are all reportedly tracking Hunt’s progress, and are prepared to make a bid - if Palace show a willingness to sell.
Hunt has made 21 appearances for Wednesday so far, and his current loan is not set to expire until the end of the season.