The 18-year-old has been one of the few positives for Charlton in what has been a disappointing season so far, but his talents have not gone unnoticed.
Lookman has scored three times in his first nine appearances at Championship level, and he has surpassed all expectations.
The forward was playing Sunday League football before this season started, but he has taken no time to adapt to the demands of playing in the Addicks’ first team.
Lookman already looks to be Charlton’s most dangerous attacking weapon, and his form has caught the eye of Palace’s scouts.
Alan Pardew’s side have money to spend in January, and they are looking to invest.
Palace have failed to find a clinical striker so far this season, and although Lookman may not be the man to fill to void in the short-term future, Pardew is excited by the youngster’s potential.