Cabaye, a £19m signing from Newcastle in January 2014, started only 13 Ligue 1 games last season and has grown concerned that a lack of regular first-team football may affect his chances of making Didier Deschamps’ national squad for next summer’s European Championships.
The 29-year-old is attracted to the idea of returning to the Premier League, and playing for his old bos Alan Pardew is not impossible.
PSG are willing to allow the player to leave.
The France midfielder would still cost around £10m and, though his wages would top anything currently being paid by Palace, there is a willingness to do a deal.
Pardew’s business in the current window to date has been limited to re-signing Brede Hangeland on a new one-year contract, though they are close to agreeing a new four-year deal with the Scotland midfielder, James McArthur, who joined last year from Wigan Athletic.
There is interest in Chelsea’s Loïc Rémy, another France international who played under Pardew at Newcastle, and the Queens Park Rangers forwards Charlie Austin and Matt Phillips.