The Evening Standard state that the Eagles, as well as West Ham, are eyeing a deal for the 25-year-old full back, who is approaching the end of his contract with the Craven Cottage outfit and is yet to sign a new deal with the player wanting a shot at top flight football.
Fredericks has been a instrumental part of Slavisa Jokanovic's side at right back and their progression in the Championship this season, which has now taken them to the play-off final against Aston Villa at Wembley Stadium on Saturday.
With compatriot and namesake Ryan Sessegnon winning most of the plaudits for his breakout season in the English second tier on the opposite flank for the west Londoners, Fredericks, a former Spurs youth player from Hammersmith, has quietly gone under the radar.
With Fulham now on the cusp of a return to the Premier League after a four-year exodus, the defender has crept onto a number of club's radars, with the Eagles now throwing their hat into the ring for the player linked in recent months with Arsenal.
A player who has had somewhat of a Championships odyssey since 2012 with spells at Brentford, Millwall, Middlesbrough and Bristol City, Fulham are now close to realising Fredericks' dreams of Premier League football, having played 105 times for the club since his permanent switch from Spurs in 2015.
With Palace defender Joel Ward set to leave Selhurst Park this summer, Roy Hodgson has reportedly earmarked Fredericks as competition for Aaron-Wan Bissaka on the right of midfield who has deputised admirably for Timothy Fosu-Mensah, since the Manchester United loanee's injury in the second half of last season.
As Fulham look to book their return to the top flight this weekend however, Fredericks may yet opt to remain with his current club but should the Cottagers suffer defeat, his move could be an inevitable one.