The Ivorian winger was subject to a bid from Arsenal earlier in the summer, but the Gunners shifted their attention to Nicolas Pepe.
Everton then registered an interest and had their own bid for Zaha turned down by Palace.
The Toffees were thought to be readying a deadline day move for the Ivory Coast international, after he reportedly handed in a transfer request yesterday.
But Palace manager Roy Hodgson has confirmed that Zaha will now be staying at Crystal Palace.
“Yes he’s staying,” said the Eagles chief. “It’s been well documented that he’s wanted to leave, but it hasn't worked out for him in that respect. We expect him to come back and do what he does.
“His beef is with the owners and the chairman... they haven’t been able to work a deal out for him. I'm looking forward to seeing him back tomorrow and hopefully he'll have come to terms with the fact that he has another season with Crystal Palace.”
Zaha scored 10 goals and assisted five more in the Premier League last season.
Palace have reportedly insisted that business is done for the summer - both in and out.
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