Cabaye is still to decide over the move to Selhurst Park with West Ham also interested but Palace have agreed to pay a club record £10million rising to £12.8m.
Since moving to PSG in January 2014, Cabaye has played just 967 minutes in Ligue 1 with 13 starts and 11 appearances as a sub. Of those 13 starts, he only played the full 90 minutes once.
On Saturday, Palace co-chairman Steve Parish spoke openly about the club's attempts to sign Cabaye on talkSPORT.
'Yohan Cabaye is definitely one we'd like to do,' Parish said. 'It would be a massive thing for the club obviously, because he's a seasoned international.'Cabaye moved back to France in a £19m deal from Newcastle - where he worked with Palace manager Alan Pardew.
Credit: SportsMail
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