The Premier League strugglers are currently looking for a new coach following Ian Holloway's departure last week.
Despite Palace's poor start to the season, McLeish believes that he could help them remain in the top flight.
"There hasn't been any contact yet but I am available as a free agent," the Scot told Sky Sports News.
"Crystal Palace are in a position that's precarious for them but there's still a lot of points to play for.
"I've had those kind of challenges before and I've had some success and some failures, but if you've got a fighting spirit and good players playing to their strengths, then why can't Palace stay up?"
McLeish has been out of work since February when he left Nottingham Forest by mutual consent.