Mahmoud Abbas told the General Assembly talks on such a status had begun, and that his eventual aim was to establish Palestine as a full member state.
Later Israel's PM Benjamin Netanyahu is to address the assembly. He is expected to set down a "clear red line" over Iran's nuclear programme.
The West suspects Iran is seeking build nuclear weapons. Tehran denies this.
Mr Abbas told delegates the annual General Assembly in New York that Palestinians would continue their efforts to obtain full UN membership.
He said negotiations had begun with "regional organisations and member states" aimed at adopting a resolution making Palestine "a non-member state of the United Nations during this session".
"In our endeavour," he added, "we do not seek to delegitimise an existing state - that is Israel - but rather to assert the state that must be realised - that is Palestine."
Currently, the Palestine Liberation Organisation only has "permanent observer" status. Last year, a bid for full-member status failed because of a lack of support at the UN Security Council.
The change would allow Palestinians to participate in General Assembly debates. It would also improve their chances of joining UN agencies and the International Criminal Court.
Mr Netanyahu is due to speak shortly.
On Thursday, an Israeli official told reporters that the prime minister would "set a clear red line" which, if crossed, would lead to military intervention against Iran.
"Israel and the US have a common goal to prevent Iran from obtaining nuclear weapons. The prime minister's remarks drawing a red line will help that this is attained," the Associated Press news agency quoted the official as saying.
In his address to the General Assembly on Tuesday, US President Barack Obama stressed the US would "do what we must" to stop Tehran acquiring nuclear arms.
But while the Obama administration has not ruled out a military option, it says sanctions and multilateral negotiations with Iran must still be given time to work.
Earlier this month, Secretary of State Hillary Clinton said the US was not prepared to commit to drawing "red lines", which Mr Netanyahu is insisting on.
Mr Netanyahu recently warned that Iran was only six or seven months from having "90%" of what it needed to make a nuclear bomb and that it needed to be stopped.
On Wednesday, Iranian President Mahmoud Ahmadinejad accused Western countries of nuclear "intimidation", in a UN speech boycotted by the US and Israel.
"Continued threat by the uncivilised Zionists [Israel] to resort to military action is a clear example of this bitter reality," he told the General Assembly.
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