Boateng has been a regular in the League Two side's team, making 14 appearances and scoring twice in the early part of the campaign.
The 19-year-old's form has helped Plymouth climb to the top of the League Two table, and Holloway likes what he has seen from the highly-rated midfielder.
"I really like what Derek Adams has done," Holloway said. "No one of knew that much about him, coming down from Scotland, but he's done a brilliant job. I like the look of Hiram Boateng - on loan from Crystal Palace - and Jake Jervis and I'm really pleased to see them doing well."
Holloway managed Palace between 2012 and 2013, while Boateng was still in the club's academy system.
He has since started to threaten to make a break through, and is currently experiencing his first taste of regular senior football.
Boateng has previously taken in a temporary spell at Crawley Town, but he only made one appearance for them and has been utilised far more at Home Park.
Boateng will be hoping that his form for Plymouth can force him back towards starting contention for Palace, as he has not made a first-team appearance for his parent club in two years.