The Paris Saint-Germain midfielder has struggled to nail down a regular place in the starting XI under manager Laurent Blanc since his arrival in Ligue 1 from Newcastle United in the 2014 January transfer window.
Last season Cabaye started just 13 games for the French champions and his lack of game time has also seem him linked with a move to Arsenal [via Metro Sport].
However, the Eagles are understood to be leading the chase for the 29-year-old and they are hoping to wrap up the deal in time for the start of pre-season.
If the South east London outfit are able to pull of this coup then Cabaye will be reunited with Pardew, whom he played under at St James’ Park between June 2011 and January 2014.
The Palace boss has brought the Cabaye from France once before and will hoping the midfielder can have the same impact that he had during his first stint in English football.