The Trotters made their move for the experienced midfielder in September, taking him on a short-term loan agreement from Leicester City until the end of the year.
Freedman is delighted to have added the 30-year-old to his ranks and would be keen to put an extended deal in place if possible.
Danns has been deemed surplus to requirements at Leicester and will see his current contract with his parent club expire at the end of the season.
On his plans, Freedman said in the Bolton News: "This loan system leaves me scratching my head at times.
"The situation is we've got him for three months and, after that time, he's a Leicester player and he goes back there fitter, stronger and hopefully a lot happier.
"If Leicester feel he won't be in the team, then we need to look at the situation."
He added: "If you want to play football, let's play football, if you want to battle, let's battle.
"I think that's what Dannsy is all about and you need characters like him in the team.
"There is room for a player like him at this club because he gets you off your seat and makes things happen."