The 33-year-old has been a free agent since being released by Chelsea when his contract expired at the end of June.
Cahill had previously been linked with a move to Burnley, but with James Tarkowski set to remain at Turn Moor, the Lancashire club’s interest in the former England international has cooled.
Cahill spent seven-and-a-half seasons at Stamford Bridge, estalishing himself as a key figure as Chelsea claimed two Premier League titles and the club’s sole Champions League trophy.
However, the former Bolton and Aston Villa defender found himself out of favour under Maurizio Sarri last season, making just his second appearance of Chelsea’s Premier League campaign as he came off the bench to bid farewell to the Stamford Bridge crowd against Watford in May.
Palace have only signed striker Jordan Ayew and backup goalkeeper Stephen Henderson so far this summer, despite the £50m sale of Aaron Wan-Bissaka to Manchester United in July.
The south London club have been lined with moves for Real Betis midfielder Victor Camarasa and CSKA Moscow striker Fedor Chalov, but as things stand Cahill could represent their most notable acquisition of the transfer window.
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