The striker is bound up by an immediate recall clause after reaching the end of his first month at Elland Road, but Leeds are understood to have negotiated a deal with Palace that will allow Freedman to feature in the League One play-offs, should they finish in the top six.
His current deal runs until the end of the regular campaign, which finishes on May 3 against Gillingham, but Freedman has made a quality contribution to United's season and Gary McAllister will aim to keep him fit and available in anticipation of a top-six finish.
Asked if he expected to remain at Elland Road were Leeds to qualify for the play-offs, Freedman said: "I came here to win promotion. My contract does say that Crystal Palace can contact me back after 28 days and I think that's up, but I'll just keep my head down and turn up for the next game with my boots."