Zaha left the Eagles to join United on a permanent basis in the summer after playing a key role in the promotion campaign up to the Premier League.
However, the 20-year-old has not featured for David Moyes' side in the league so far and has been linked with a loan exit in January, with Fulham, West Ham and Newcastle all mentioned as possible destinations.
Palace co-chairman Steve Browett indicated on Friday that Palace would be very interested in the new year should the England Under-21 star be made available for loan and now Holloway has suggested the same.
"The coincidence that he was our player and joined Man United is wearing on me a bit," he said.
"The boy is sorely missed at our football club because of the belief he used to give us. The emergence of (Adnan) Januzaj hasn't helped Wilf.
"Good luck to him and we will revisit that if and when we might see fit."