Palmer appeared in five regular-season games, making one catch and playing primarily on special teams.
Whalen, signed as an undrafted free agent last year, was Luck's roommate at Stanford and was enjoying a solid preseason before a foot injury in an exhibition game at Pittsburgh ended his season.
Whalen has an advantage this season because of his experience in new offensive coordinator Pep Hamilton's system at Stanford.
"Griff's been great," Luck said in May. "I've obviously played with Griff for a long time. He doesn't really surprise me anymore with the things he does. He's done a phenomenal job so far."