The 33-year-old signed a new two-year deal in the summer but the Frenchman has made only two substitute appearances for Eddie Howe's men in the Premier League.
Kermorgant joined Bournemouth in January 2014, and was a key player for the Cherries last season, scoring 17 goals in all competitions as Bournemouth were named Championship champions.
It's common knowledge that Bolton need to add to the forward ranks, and Bolton boss Neil Lennon is apparently keen to bring a striker in early next week.
The Whites have already failed with moves for Swansea City forward Marvin Emnes and West Bromwich Albion striker Victor Anichebe, and are still waiting to hear from Charlton Athletic striker Igor Vetokele, who apparently remains the 1st choice target.
It's doubtful Kermorgant will be available for now after striker Callum Wilson went off on a stretcher, in the Cherries 2-1 defeat at Stoke City. Depending on the severity of the injury, it's unlikely Kermorgant will be allowed to leave anytime soon.