The midfield duo had emerged as doubts for the contest at Selhurst Park after they were both withdrawn during the Magpies' 2-0 home defeat to West Ham United on Monday.
Speaking to reporters after the match, Howe said: "Joe took a knock to part of his leg and didn't feel 100% [at half time]. Bruno felt a glute, I believe, but hopefully they're not big problems."
While Guimaraes has captained Newcastle in all 12 Premier League matches so far this season, Willock has made 10 appearances in the top flight, although he is yet to complete 90 minutes amidst fitness issues.
Howe is hopeful that both players will be able to travel down the capital, where the Magpies have lost six of their last eight Premier League visits and have conceded at least two goals in seven of those games.
Guimaraes, Willock "have a chance to play" against Palace
Speaking at a press conference on his 47th birthday on Friday, Howe said: "[Guimaraes and Willock] have a chance to play. They're not serious injuries so we'll make a decision today."
Three players who remain sidelined are Jamaal Lascelles, Sven Botman (both knee) and Emil Krafth (collarbone) who are all targeting a return in the New Year.
Discussing the importance of squad depth heading towards Christmas, Howe said: "It's a position we weren't in at all last season. Very quickly, those decisions ebbed away with the huge amount of injuries we had.
"December's going to be crucial for us. We have a lot of games in an intense period. You want a lot of choice and we're going to need that."
Howe was pleased to welcome back Callum Wilson to his matchday squad last time out and believes now is a "huge moment" for the 32-year-old striker to put his fitness to the test.
Wilson, who has struggled with injuries throughout his career, made his first appearance of the season as a substitute in the defeat to West Ham after recovering from a troublesome back problem.
"I can't speak highly enough of how he's faced the challenges in his career," said the Newcastle boss. "It's a big moment for him now. He needs to stay fit, we need him to stay fit. We know what qualities he has on and off the pitch. He's a huge personality."
Howe talks up Wilson, Isak, Tonali ahead of Palace clash
Howe is keen to have both Wilson and Alexander Isak fit and firing in his squad, adding: "Psychologically, when you know you've got a player of Callum and Alex's [Isak] quality fighting for the shirt, that can only increase your awareness of staying absolutely on top of yourself.
"They're two absolute competitors, both very different in their games but fighters, and they both want to play.
"I'd love to have the opportunity to work with them both over a prolonged period because they offer so much to the team."
Meanwhile, Howe has addressed the lack of minutes midfielder Sandro Tonali has had this season; the Italian has started only four of Newcastle's 12 Premier League games and has come off the substitutes' bench in each of the last three.
"Sandro's been good. He's trained really well, especially this week. I've been really pleased with his contribution," said Howe.
"He did really well coming on at Forest, the game was 1-1 at the time and he played a big part in moving that towards us. He's fighting for a place and doing himself no harm on that."
Newcastle currently sit 10th in the Premier League table, but a victory over Crystal Palace could see them climb to as high as sixth if other results go their way.