Kent still has two years remaining on his contract at Liverpool, although he is expected to struggle to break into the side on his return.
Jurgen Klopp is reportedly a fan of the youngster, but the club would be willing to let him go as they look to further strengthen in attacking areas next season.
Kent has expressed his desire to fight for his place at Liverpool despite interest from fellow Premier League club Bournemouth and promoted Championship side Brighton. Barnsley are also believed to be interested in making the loan move permanent in the upcoming summer transfer window.
Kent has caught the eye with the Yorkshire club during his loan spell, demonstrating his dribbling and technical ability in a number of promising performances. Kent has previously had a loan spell with League One side Coventry.