Ox has one season left on his terms and Palace are among a host of clubs looking at his situation, while Jenkinson came close to a Selhurst Park move in January.
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But Wenger is also prepared to swoop for Zaha, 24, for straight cash after looking at his forward options for next season.
Alexis Sanchez also has one season left on his deal and Wenger will aim to freshen his attack even if the Chile star stays.
Palace winger Zaha is also wanted by TotttenhamRex FeaturesThumbs up to Zaha...Arsene Wenger could offer players in part-exchangeGetty Images
The Frenchman has been impressed with Zaha’s form - which included a star role against Arsenal last month.
His form this term has earned an Ivory Coast call-up and has also prompted Palace to look at an improved deal for one of their key performers.
Zaha also scored in a win over champions-elect Chelsea when he returned from the African Cup of Nations
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