The Eagles are set to sign MTK Budapest striker Sandor Torghelle, after the player snubbed Dutch club Roda JC.
Palace have been negotiating for the 22-year-old for some time, but it was thought Roda had clinched the deal.
However, the Dutch side have now admitted the player – dubbed ‘Hungary’s Wayne Rooney’ – will not be joining them.
"To everyone's stupefaction, we received a phone call yesterday at 7pm from Hungary saying that Sandor Torghelle will not be playing in the colours of Roda JC next season," read a statement on their official web site. "He appears to have eventually chosen Crystal Palace."
Torghelle is expected to sign a four-year deal within the week. The eventual fee is not yet known, but is likely to be in the region of £400,000.
The Hungarian hitman has earned seven caps for his country, scoring three times. Two of those goals came in the 2-0 victory over Germany in June, with the other the solitary goal in a 1-4 defeat to Brazil in April.