Palace have seen Christian Benteke score just once in the Premier League this season, and with no major competition behind him, Roy Hodgson desperately needs a new striker this month.
A host of players have been linked with moves to Selhurst Park, but with a deal for West Ham United's Diafra Sakho believed to be stalling, Palace are looking elsewhere.
The Daily Mail report that Palace are now pressing ahead with a move for Fiorentina's Khouma Babacar, and may even be about to beat West Ham to his signature.
It's claimed that West Ham were hoping to sign Babacar on loan until the end of the season, whilst holding an option to sign him permanently in the summer transfer window.
However, Palace are believed to have swooped in with a £15million permanent offer, meeting Fiorentina's terms as they close in on a deal for the Senegal international.
Babacar, 24, has been on the books with Fiorentina since joining from Pescara in 2008, and he has been limited to 15 substitutes appearances and no starts, but has still managed to score four goals.
The centre forward could offer Hodgson another legitimate goal threat, and landing him would leave West Ham heading back to the drawing board in their search for a new striker.