Keane joined the Championship club in early November, but he has been restricted to just two appearances for Nigel Pearson's side.
The 19-year-old picked up an injury on his debut against Bolton Wanderers before returning to the team for the New Year's Day thrashing of Huddersfield Town.
He is now eligible for Leicester's FA Cup third round tie against Burton Albion on Saturday and the club's next four matches in the Championship.
The centre-half has made three appearances during his United career, all of which have been in the League Cup.
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