Lokonga is one of three changes in midfield, with Luka Milivojevic and Will Hughes coming to replace Jeff Schlupp, Cheick Doucouré and Odsonne Edouard. Ebere Eze moves into the front three, alongside Jordan Ayew and Michael Olise.
Chris Richards starts in defence, alongside Marc Guéhi, Joachim Andersen and Tyrick Mitchell ahead of Sam Johnstone.
Schlupp and Doucouré are options on the bench alongside James McArthur, while Jean-Philippe Mateta and Odsonne Edouard are ready to come into the attack.
Wolves: Sá (GK), Lemina, Neves, Hwang, Cunha, Dawson, Semedo, Kilman, Nunes, Costa, Bueno.
Subs: Bentley (GK), Collins, Neto, Podence, Garcia, Toti, Moutinho, Gomes, Traoré.
Palace: Johnstone (GK), Richards, Guéhi, Andersen, Mitchell, Milivojevic, Lokonga, Hughes, Olise, Eze, Ayew.
Subs: Guaita (GK), Ward, Tomkins, Doucouré, Riedewald, McArthur, Schlupp, Mateta, Edouard.