Recent reports have claimed that United are keen to complete a deal for the attacker this month, before loaning him back to Palace for the remainder of the season.
However, Gill has insisted that any transfer is not likely to be concluded until the summer.
"He is one of the players that we are looking at - that is all I will say at the moment," Gill told Sky Sports News. "Even if we did do something with Wilfried, that would be for the summer.
"I've been in football too long to say that is not done until it's done. He's one of the players we are looking at, but it is far from done."
Arsenal are also said to be interested in the England international.