Frank De Boer was the teenager's manager at Ajax during his time at the famous Amsterdam academy.
Fosu-Mensah then went on to join United's youth system in 2014 and has recently broke into Jose Mourinho's first team plans.
Only last October he penned a new long-term contract at Old Trafford keeping him with the Premier League club until 2020.
Mourinho has often used Fosu-Mensah as a versatile right-back and he is equally capable of playing in the heart of midfield.
But his first-team opportunities could be further limited this season following the acquisition of Nemanja Matic earlier this week while Serge Aurier has also been strongly linked with a move to Old Trafford.
And The Sun report De Boer is prepared to jump at the chance to work with the Dutch U21 international again.
The Palace boss sees Fosu-Mensah as the ideal fit to play on the right side of his defence in a 3-4-3 formation.
Watford are also reportedly in the running to sign the young United star on loan.
United chiefs are said to be undecided over their plans for Fosu-Mensah and will make a call after their UEFA Super Cup clash with Real Madrid next week.
