Murray has scored five times in the last five matches, a better strike rate than Olivier Giroud of Arsenal, Diego Costa of Chelsea, and Tottenham's Harry Kane.
Manager Alan Pardew said: "Goals per minute he is the best striker in the League, and that's great for us and a great tag for him to carry."
His goals have come in just 447 minutes of football and his performances have hoisted Palace to a position in the League where they are looking for a top-10 finish.
Murray has only recently broken into the side because of injury and Pardew added: "He has had to change his game a little, but then so did Alan Shearer when he came back from seriously hurting himself at Newcastle.
"Those injuries have taken a yard off Glenn's pace, but he has managed to adapt.
"I've always admired him and often thought I'd like to have him in my side."
GETTY
Glenn Murray has scored five times in the last five games
Goals per minute he is the best striker in the League
Alan Pardew
Meanwhile Santiago Vergini is set to sign a new two-year deal at Sunderland if he can help them stay in the Premier League.
The £2m-rated Argentinian defender is ready to make his loan move from Costa Rican side Sport Uruguay de Coronado permanent this summer, but the deal will only be triggered if the Black Cats retain their top-flight status.
The 26-year-old is keen to pledge his long-term future to the Stadium of Light, and said: "If we stay in the Premier League then under the terms of the loan agreement, I can stay here for another two years."
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