Rowe joined the club on a two-year deal from Peterborough United in 2014 but struggled to make an impact at Molineux, starting just two Championship games last term.
With his contract set to expire this summer, Jackett is unsure whether the 26-year-old has a future at the club and suggests talks take place until the end of the current season.
“His contract is up in the summer and we haven’t spoken to him yet about the future,” Jackett said.
“He’s had a good amount of games this season, with his Scunthorpe loan. Between ourselves, Tommy and his agent we will sum up the situation at the end of the season.”
Rowe has spent the past few months out on loan, first joining Scunthorpe United and playing 14 times before moving to League One strugglers Doncaster Rovers until the end of the season.
Capable of playing at fullback, one the wing or in midfield, the former Stockport County man is a useful asset to cover a number of positions but question marks remain over his ability at Championship level.
Wolves currently sit in mid-table in the Championship following an inconsistent campaign, and a number of changes are expected to be made this summer as the cub look to progress.