Last week’s approach brought about a polite "hand’s off" warning from Bolton boss Sam Alardyce but Ollie is still keen to sign the 37-year old on a loan deal.
Ferdinand joined the Trotters in the summer after scoring 12 times for relegated Leicester City last season.
Ollie contacted the former Ranger and even offered the forward a contract that involved a playing deal as well as the vacant coaching position of the Superhoops strikers.
"Sir Les" turned down the deal in favor of one more crack at the Premiership with Bolton.
But since his move North, things have slowly turned sour. The arrival of El Hadji Diouf, coupled with the form of Henrik Pedersen and Kevin Davies have meant that Les has been coming to terms with bench-warming, something he’d prefer not to be doing at his age.
Nethertheless, Alardyce is keen to keep the bustling striker at the club. The Trotters have surprised many by consolidating a position of fourth in the Premiership this season and Ferdinand could prove vital in the winter fixtures.
Ollie is known to be bombarding the Bolton gaffer daily with phone calls, answer phone messages and emails, pleading for the player to be given the green light to in affect "come home" to Loftus Road.
Speaking last week, Holloway said:
"I contacted Sam about the possibility of bringing Les Ferdinand to the club on loan.
"Sam said no as Les still wants to play Premiership football. That’s fine but while he’s stuck in the reserve’s he may want to help out his former club.
"Whilst playing first team football he could also help his old side get back into the Premiership."
Alardyce will most probably reject the renewed approach and seems reluctant to change his mind over the deal, leaving Ollie without genuine cover for 10-goal star man Paul Furlong.
"Every side wants a player like Paul in there side. Were delighted to have him as he’s such a vital necessity in the team, the problem arises when Paul gets injured.
"I don’t know what will happen if he does, at his age it will be a miracle if he can survive a full season, and we’ve seen what happens when he misses a game (Wolves)." Said Holloway.
Les Ferdinand scored 90 goals in 184 appearances for the Superhoops before leaving for Newcastle in a club-record sale of £6million in 1995. Many fans rate his as one of the best striker’s to wear the number nine shirt at Rangers.