Benayoun, who featured at West Ham for the first half of the season, is likely to be released by Chelsea at the end of the season.
After he made six Premier League appearances for the Hammers this season before suffering injury problems, Allardyce has revealed that he will consider bringing the Israel international back to Upton Park for a third spell.
When asked about Benayoun, the former Bolton Wanderers and Blackburn Rovers boss told reporters: "There are lots of names on our list from our head of recruitment and there will be lots of people chasing those players who are not going to cost anything transfer fee wise.
"He will be on our list probably, but we will wait and see when the time comes around."
The 32-year-old could feature when Chelsea face West Ham at Stamford Bridge on Sunday.