The former Crewe teammate of Wanderers forward Max Clayton will join on loan after cutting short an ill-fated loan move with Premier League side Leicester City, where he has made just four appearances this season.
It has been reported in the Telegraph that Leicester boss Nigel Pearson has decided to end the loan prematurely after the United midfielder's failure to impress left Leicester's coaching staff exasperated.
Telegraph Sport understands Powell has infuriated Pearson and his backroom team with his attitude in training and general timekeeping since joining on loan in September.
Powell has made four appearances this season, including one for United in their hilarious Capital One Cup thrashing to MK Dons, and it is believed that United boss Louis van Gaal wants him to have more game time which Lennon can promise.
Wanderers will of course be without Lee Chung Yong Chung Yong Lee for a month as he travels to the Asia Cup in Australia, meaning that any creativity that can be added to the side will be welcome.