The 22-year-old has missed the start of the season after undergoing groin surgery over the summer, and has not been able to train fully for three months.
However, the centre-back played 90 minutes in Everton Under-21s 4-3 win over Sunderland Under-21s last Sunday, and has since been training with the first team.
Branthwaite's return could be a complete game changer for Everton, who have gone from having the fourth-best defensive record in the league with him present last season, to the joint-worst without him so far.
Manager Sean Dyche has been dealing with a defensive crisis all season, with only one full-back available to him on occasion, and new signing Jake O'Brien taking time to settle in.
For their trip to Leicester City last weekend, Ashley Young was the only recognised full-back, and the 39-year-old has become deeply unpopular among the fanbase following a poor start to the season.
James Garner was therefore forced into a makeshift right-back role at the King Power Stadium, but Dyche should now be able to call upon both Nathan Patterson and Vitalii Mykolenko for the visit of Palace.
Mykolenko has recovered from illness, while Patterson also got minutes for the Under-21s last week after five months on the sidelines, however, a lack of match fitness could see Garner or Young preferred on the right.
First-choice right-back and captain Seamus Coleman remains out after picking up a foot injury while on Ireland duty earlier this month, joining striking duo Youssef Chermiti and Armando Broja on the treatment table.
Idrissa Gueye is back and training with the team though, after he was allowed personal leave last week due to a family bereavement, meaning Dyche has a full complement of five options to choose from in central midfield here.
Abdoulaye Doucoure and Orel Mangala started at Leicester, but Gueye, Garner and Tim Iroegbunam are all in contention to feature.
A lack of threat in attacking areas has been Everton's Achilles' heel in recent seasons, but the additions of Iliman Ndiaye and Jesper Lindstrom have brought pace and directness to their frontline in recent weeks, and the two should start out wide once again after impressing against the Foxes.
One concern though is the form of Jordan Pickford, as the England number one made another error that led to Leicester's equaliser last weekend, but backup Joao Virginia did cover himself in much glory in their cup defeat to Southampton a few days earlier, getting nowhere near any of the visitor's six penalties in their shootout defeat.
Everton possible starting lineup:
Pickford; Garner, Tarkowski, Branthwaite, Mykolenko; Gueye, Mangala; Lindstrom, McNeil, Ndiaye; Calvert-Lewin