Steve Parish has put the Serbian top of his managerial wish list, with Fulham legend Chris Coleman also high on the list of managers the Palace chairman wants to talk with.
The 48-year-old, however, only signed a new contract in February which runs until 2019 and would cost Palace £3million in compensation, according to the Sun.
West Ham had shortlisted the Fulham boss previously, but Jokanovic ruled out any move and insisted he was happy at Fulham and wanted to take the club back to the Premier League.
Middlesbrough are also sniffing round Jokanovic, but he is happy in London and isn't interested in a move north at this moment in time.
Meanwhile, Wales are also bracing themselves for an approach for former Fulham man Coleman, who would jump at the chance to return to club management eventually after doing a great job with Wales.