The Belgian was a regular substitute at the start of the season but, since December, he has been picked to lead the line on a consistent basis.
Benteke has fared well with three goals and one assist in his last eight league games and he appears content to remain with Palace for the season.
It was recently reported that Benteke may make the move to the Baggies with new signing Jean-Philippe Mateta likely to take his place up front.
However, the former Liverpool man appears unfazed by the arrival of the 23-year-old and is pleased with his playing time at the moment.
Benteke feels he will have more options to consider, should he become a free agent in the summer.
Mateta has yet to make his Premier League debut for Palace and he may take some time to adapt to the style of play under manager Roy Hodgson.
On that basis, it seems a worthwhile option for Benteke to stay put, given he has made some valuable contributions over the past eight weeks.
Meanwhile, the move could come as a potential blow for the Baggies, who are in need of reinforcement in the centre-forward department.
The main strikers in Callum Robinson and Karlan Grant (currently injured) have struggled to find the back of the net regularly.
While Robinson has not scored for the Baggies since September, Grant has been equally disappointing and his only goal came against Brighton in October.
Benteke would have proved an upgrade on their current options, but they may now have to look elsewhere to bolster their strikeforce.
The west Midlands outfit are currently 19th in the table with a six-point gap to safety and desperately need a new striker who can make an instant impact.
Stats from Transfermarkt.com