The 29 year old has been a free agent since his contract at Paris St Germain was cancelled at the start of the summer and the Mali international is now keen on a return to the Premier League.
Italian side Fiorentina decided not to sign Sissoko after a loan spell with them at the back end of last season and the players’ wage demands have stalled clubs from taking him on so far.
Palace want to sure up their midfield and the vast experience and quality of Sissoko is seen as the ideal signing for Tony Pulis who tried and failed to sign the holding man when Stoke boss.
Sissoko is set to join Palace on a six month deal with an option to extend that further at the end of the season should everything go well until then.
The Eagles have struggled to add to their squad so far this month but Sissoko could be the first name in and considered a bargain as he was valued at £10million when he left Liverpool.