Inter are attempting to cut their wage bill and lower the squad's average age after finishing sixth in Serie A last year.
A number of players have departed the San Siro since Inter won the Champions League, Serie A and the Italian Cup under Jose Mourinho two years ago, but Sneijder remains.
The Dutch forward was strongly linked with a move to Manchester United last year with his wage demands apparently scuppering the prospect of any deal.
“I, actually we, are happy that Wes is here with us,” said Palacio, who scored a late equaliser in a 1-1 friendly draw with Scottish champions Celtic on Saturday.
“Everything is much easier on the pitch with him in the side. Sneijder is the head of this team – he makes everyone play well.
“If Sneijder plays in the manner that he knows how then, as a consequence, Inter as a whole play better.”