Hodgson, 76, collapsed towards the end of yesterday's morning training session and was accompanied to hospital by chairman Steve Parish.
As a result, his press conference was cancelled just 35 minutes before it was due to begin at 1.30pm. He later underwent tests and was talking to doctors and walking unaided.
Glasner, who led Eintracht Frankfurt to 2022 Europa League glory, is expected to replace Hodgson on a deal that runs until 2026. Assistants Ray Lewington and Paddy McCarthy are expected to take charge of Monday's trip to Everton.
Palace kept faith with Hodgson (right) this term after he steered them away from relegation last season, but pressure had grown to untenable levels in recent weeks.
The Eagles have won just four of their last 18 League games, leaving them five points above the bottom three. Key men Michael Olise, Eberechi Eze and Cheick Doucoure have been sidelined for much of the season, while England star Marc Guehi is also out.
Parish's decision to stick with Hodgson this season was an unpopular decision with much of the fanbase, who have been critical of the former England boss.
That, coupled with Palace's injury struggles, led Hodgson to admit this was the "toughest period" of a managerial career spanning 48 years.
Hodgson told Standard Sport in December he would not seek another job after Palace.

Hodgson concern as Palace line up Glasner

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.