Zaha – who was called up by England last month – has reportedly been on Arsene Wengers's radar for months, and the Gunners have lined up a £7-million bid to bring him to the Emirates.
Wenger, however, played it cool, saying: "We are looking at every player who could strengthen our squad. He's [Zaha] not more on the list than anybody else."
The Sunday Mirror has reported that the player – who has been valued in the region of £20-million – is also top of Alex Ferguson's transfer wish list, while Chelsea have also been monitoring the 20-year-old's progress.
However, an insider at Crystal Palace claims the club are not interested in selling the Ivory Coast-born forward, as he will be crucial to their challenge for promotion to the Premier League under new manager Ian Holloway.
"It would be easy to cash in on Wilfried in January, but the feeling at the club is that it would be a false economy. It is a case of giving it our best shot to win promotion – and that means keeping Wilfried at Selhurst Park," the source told the Sunday Mirror.