Ivory Coast forward Zaha has been linked with an £80million move away from Selhurst Park, with reports suggesting he has told the club he wants to play in the Champions League.
Crystal Palace did not comment on the speculation when contacted by Press Association Sport. Zaha's representatives have also been approached regarding the situation.
Jordan, though, feels the Eagles would be wise to let one of their key men depart, provided the right deal can be brokered for Zaha, who agreed a new long-term deal last summer.
"Without wanting to alienate myself from a group of fans I adore, I think now is the time for Zaha to go," Jordan said on talkSPORT.
"I think Palace need a change of direction and probably need to be able to rebuild with the right amount of monies being achieved for Zaha.
"Now, I don't think that right amount of monies is likely to be £80m, but I certainly think it's in the £50m or £60m bracket and I think he can play for any of the top-six clubs.
"I think he's a £60m player - I think he's every bit as good as (Riyad) Mahrez.
"He hasn't played in sides quite as fashionable, because Leicester won the league when Mahrez was in his pomp and now he is at Manchester City, while Wilfried has played at Crystal Palace.
"So I'm not surprised now Wilf wants the opportunity to ply his trade somewhere else."
Jordan believes Palace can hold out for the fee they want to part with Zaha.
"When he signed a contract, my mind-set was that it's merely Crystal Palace maintaining the value and negotiation for in a year's time," he said.
"If they've got Wilfried on a four or five year contract there can be no leverage that any football club can put on them to be able to get this player for a fraction of his worth.
"So I'm not surprised we are now at the point where Wilfried is making his intentions very clear."
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