Hazard enjoyed a prolific seven-year spell at Chelsea as he scored 110 goals in 352 matches in all competitions.
He helped the Blues win two Premier League titles, two Europa League titles as well as the FA Cup and EFL Cup during his trophy-laden stint at Stamford Bridge.
The Belgium left England for Real Madrid, who splashed out an initial £88.5 million to acquire his services in 2019.
But he failed to impress in Spain and after four seasons at the club, he was released, making him a free agent.
Persistent injuries could see him retire prematurely. However, Palace are hoping to save the 32-year-old from retirement.
According to FootballTransfers, the Premier League side are weighing up a sensational move for Hazard.
Palace chief Steve Parish believes the player still has something to offer - commercially and on the pitch.
As for Roy Hodgson, he is also said to be keen for the transfer to happen.
The report claims he would be offered a one-year deal, with a pay-as-you-play structure.
FootballTransfers states 'he would receive an inexpensive base salary but with the ability to augment his income through appearance and performance bonuses'.
Palace boast some exciting and budding stars like Eberechi Eze and Michael Olise, who attracted interest from Chelsea. The addition of Hazard, though, would add a wealth of experience to the squad.
As Hazard is a free agent, Palace don't need to sign him before the transfer window closes on September 1.
The Selhurst Park outfit, meanwhile, opened their 2023/24 campaign with a win over Sheffield United. But they lost to Arsenal in their last outing.
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