The Millwall boss says the 29-year-old could join Leeds before the transfer deadline passes.
The Millwall boss was speaking after his side's surprise win at Nottingham Forest in the Championship on Saturday afternoon - and admitted that the 29-year-old could be Elland Road-bound.
Woolford wasn't in the Millwall squad to face Forest, amid speculation he may be joining Leeds imminently, and could be on his way out of south London having joined the Lions in 2013.
Leeds had been linked with both Woolford and Ben Pringle as they reportedly look to bolster their ranks out wide.
And the former could certainly now be a possibility after Holloway's post-match comments.
Leeds themselves were victorious on Saturday, beating Huddersfield Town 2-1 in a Yorkshire derby.
Neil Redfearn's men have turned their form around significantly of late and are now four Championship games unbeaten. Leeds still sit near the wrong end of the league table, however, and reinforcements will no doubt aid their bid to stay in the division - and possible do more.
Woolford spent two years at Bristol City before leaving for Millwall.