West Ham had wanted to bring Emenike in on loan from Fenerbahce until the end of the season, and they looked set to complete a move for the striker.
However, the deal reportedly hit a stumbling block last week - and it is now believed that obstacle is Palace’s interest.
The Eagles also want to sign a striker, and they believe that Emenike could fill their void up front.
The Nigerian has been prolific for Al Ain this season, scoring nine times in 15 matches, and Alan Pardew believes he could be a hit in the Premier League.
Connor Wickham is Palace’s only striker to have scored so far this campaign, and his goal came from the penalty spot.
West Ham are still said to be confident of landing Emenike by the London Evening Standard, but a move to Palace could tempt the powerful forward, with his chances of playing regularly at Selhurst Park arguably greater.