O’Halloran returned to his former club St Johnstone on loan from Ibrox outfit Rangers in the summer transfer window and will remain at McDiarmid Park until January.
The 26-year-old forward failed to impress Pedro Caixinha, who suggested to The Daily Record in August that O’Halloran does not feature in his long-term plans at the Gers.
Caixinha is no longer the manager at Rangers, who are on the hunt for a permanent successor to the Portuguese coach, with Graeme Murty currently in temporary charge of the Ibrox club.
O’Halloran is playing well for St Johnstone at the moment, but the Rangers-owned forward has admitted that his future is in limbo.
The former Scotland Under-21 international forward joined Rangers from St Johnstone in January 2016 for a transfer fee reported by The Daily Record to be worth £500,000 when Mark Warburton - now the manager of Nottingham Forest in the Championship in England - was in charge.
O’Halloran told The Daily Record: “I don’t know what is going to happen after January. I don’t know what the situation is.
“But I am looking forward to the next six or seven games before the break. At the end of the day it’s up to Rangers what happens and I would imagine I will have a say in it myself.
“I will have to wait and see who the new manager is there but I am just enjoying playing football and taking it game by game here.”