Morrison says the key is manager Oliver Glasner, who resisted an approach from Bayern Munich at the end of last term - barely months into the Eagles job.
Asked about Bayern's attempt, Morrison insists it is proof Palace have landed themselves one of today's brightest managers in the Austrian.
He told Tribalfootball.com: "100% Crystal Palace have themselves a top manager, when you look at the calibre of a team like Bayern Munich and they're trying to bring in a manager like Oliver Glasner, then it shows he's made a big difference.
"I think from where Palace were, he came in and, in the end, they managed to finish above Brighton in that top half of the table.
"It was a fantastic end to the season and a lot of credit has to go to Glasner.
"He's a top manager, I speak with a lot of people at the football club, and they tell me he's so intense and his training is really intense.
"You just know he gets it, the players and staff get it, so everyone is singing from the same hymn sheet.
"I think he's been fantastic and I'm so glad Palace have managed to keep hold of him because when a club like Bayern Munich come knocking on the door, then you do start to worry.
"But credit to him, he's a top manager and I think Palace are in for another good season under him."
As for his hopes this season, Morrison is convinced that under Glasner, Palace are capable of breaking into the European places.
He continued: "I said it last year and everyone laughed at me, but I'm saying it this year again.
"I will admit I said it for this season when I thought Michael Olise would be here, but even with Olise going there's a chance.
"If Palace can keep this squad together and add in someone like a Wilfried Zaha as well as hopefully avoiding injuries in the season, then why not.
"I don't see any reason why Palace can't sneak into there; they finished in the top half last season and they have a very good manager with some very talented young players.
"There's a good academy set up at the club, so why not?
"No one thought Aston Villa would finish in the top four last season and Unai Emery did a fantastic job of making it happen.
"So why can't Glasner do that at Crystal Palace?
"But they have to keep all of these players, they can't lose Eze, Wharton or Guehi because it would be a struggle then.
"If they can keep them and add extra to the squad then they've got a great opportunity because the manager for me is top class."
For the moment, Leicester City are emerging as favourites to bring former Palace captain Zaha back to England. But Morrison says he'd like to see Palace also make an attempt for the Galatasaray attacker.
He added: "That would be a good signing, Wilfred Zaha is Mr Crystal Palace.
"He's loved and adored by everyone there, so if the club can get the opportunity to bring Zaha him back, then I think that's a fantastic opportunity.
"When you lose someone like Olise, Zaha is a perfect replacement because he knows the club inside out, he has plenty of ability and I think it would be a great move for both parties.
"Usually when you go to a new club it takes time to adjust, it wouldn't with Wilfred Zaha because Crystal Palace is his home.
"For me, that's a really good signing and hopefully it can happen."
- Clinton Morrison was speaking to Tribalfootball.com on behalf of Betway