Defoe has found opportunities limited at Bournemouth this season, and the newspaper reports the 36-year-old is considering leaving in search of more game time.
Meanwhile, Crystal Palace's centre forwards have failed to contribute a single Premier League goal all campaign.
And the chance to remain in England's top flight - not to mention a return to his native London - with Palace, may appeal to Defoe more than a move to the Championship with Sheffield United, Nottingham Forest or Wigan.
The former England international remains under contract on the south coast until 2020.
Crystal Palace, Sheffield United, Nottingham Forest, Wigan or somewhere else - where do you see the Bournemouth striker going in January?