The Eagles are in the market for a new midfielder and have identified Wolves star Gibbs-White as their top target.
But Wolves boss Bruno Lage wants to keep Gibbs-White at his disposal, while he has also attracted strong interest from rival top flight clubs, in addition to Crystal Palace.
Patrick Vieira’s side are aware of the possibility of missing out on Gibbs-White and have also been looking for alternative options.
Crystal Palace have identified Chelsea man Loftus-Cheek, a player they had on loan in the 2017/18 season, as an alternative to Gibbs-White.
And the Eagles have registered their interest in signing the 26-year-old again with Chelsea.
Loftus-Cheek only made 13 starts in the Premier League last term while a move to Selhurst Park could offer him the opportunity to regular fist team football.
The Chelsea man enjoyed a successful spell at Crystal Palace during his loan spell there and it remains to be seen whether he will wear the Eagles colours again.
