The former England manager, 54, appeared to pour cold water on an imminent move back into coaching earlier this month when he claimed he will take at least one year out.
Gareth Southgate could return to Premier League football this season
He said: "Firstly I'm enjoying my life…so there's no rush. I was 11 years committing myself fully to the FA and I've got lots of different experiences.
"But I won't coach in the next year, for sure. I'm certain of that.
"I need to give myself time to make good decisions. When you come out of a really big role you need to give your body time, you need to give your mind time."
This effectively meant he ruled himself out of replacing Erik ten Hag at Manchester United should Red Devils chiefs opt to sack their manager.
However, The Guardian understands that, despite Southgate's recent comments, he is now in the frame for the Crystal Palace job.
Oliver Glasner's side have had a dismal start to the season, failing to win any of their opening eight Premier League games, picking up just three points and languishing in the relegation zone.
If the German is dismissed, reports suggest three names are in the frame to succeed him at Selhurst Park.
One of those is Southgate - who last coached in the Premier League with Middlesbrough 15 years ago.
Oliver Glasner has endured a torrid start to the season
Ex-Brighton and Chelsea boss Graham Potter is also thought to be under consideration.
And former West Ham head coach David Moyes is another name being linked with the post.
Southgate spent three years as Middlesbrough boss, winning 45 of his 151 games in charge.
He helped them avoid the drop on two occasions, before they were relegated in 2009 and the English coach departed.
He became England U21 boss and then took the role as senior team manager in 2016 - where he went on to reach a World Cup semi-final and two Euros finals.
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