The winger joined on loan from Palace in January but managed only one appearance for Rovers before the season was halted due to the coronavirus pandemic.
Despite his lack of game time, manager Darren Moore was very impressed by the Belgian and has previously expressed his interest in signing Lokilo on a permanent basis.
And the Free Press understands Moore made contact with Palace earlier this month to enquire about the 21-year-old’s availability.
As Lokilo has been released by Palace, the Premier League side would not be due any compensation when he signs for another club. Compensation is only due if the player rejects a contract renewal offer before joining a new club.
Lokilo arrived at Palace as a 16-year-old after switching from Anderlecht.
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