Mateta has scored 54 goals in 171 appearances for Palace across all competitions and has proven himself to be one of the deadliest striker in Europe over the last few years.
Manchester United have long been credited with transfer interest in the Frenchman over the past few months, despite adding Matheus Cunha, Bryan Mbeumo and Benjamin Sesko to their attack over the summer.
The 28-year-old has 18 months remaining on his deal in south London, sparking interest from the Red Devils, who reportedly want to draw him away when the season ends.
However, as reported by The Mirror, Palace have now begun talks with the experienced striker, who is keen on staying with the Eagles as he considers his future.
Last month, Mateta was quizzed on whether he would like to join a bigger club. He spoke to RMC Sport:
"It's natural, every ambitious player wants to reach that milestone.
"Especially when you arrive in the national team and around you, there are only players who play in the Champions League, who win the biggest trophies. When you play surrounded by the best players in the world, naturally you want to reach that milestone."
This season, Mateta has already recorded six goals in 11 appearances and even made his debut for the French national team where he has scored twice in his first three caps under manager Didier Deschamps, putting him in United’s radar even more.