Palacio ready if called upon
The South American nation were well fancied ahead of the tournament in Brazil, especially after being drawn with Iran, Nigeria and Bosnia-Herzegovina in Group F.
With the likes of Lionel Messi, Gonzalo Higuain and Sergio Aguero among their ranks, Argentina boast arguably the most dangerous forward line in international football.
Palacio, who injured his ankle in a warm-up game against Trinidad and Tobago, knows his chances of starting are unlikely but the Inter frontman hopes to feature off the substitutes bench.
"I know that the regulars are Aguero, Higuain and Messi," he said in a press conference on Tuesday.
"I have to be prepared for when I'm asked to enter.
"When I turned my ankle I got scared. I feel very good. Tomorrow I will be much stronger."
After a 2-1 win over Bosnia in their opening game on Sunday, Argentina take on Iran on Saturday, and Palacio is aware that Carlos Queiroz's men will provide a different type of challenge.
"Bosnia are strong physically," he said. "Iran has more management with the ball. Against Iran we could win and qualify."