Palace signed the winger from Derby in 2022 but he has featured just five times for senior time since then.
Ebiowei has has had loan spells at Hull City and RWD Molenbeek but is still struggling to feature in Crystal Palace’s first-team plans.
The Eagles have not lost faith in the young winger and want him to play more senior football in the upcoming season.
It has been claimed that Oxford are keen to sign him on loan from the Premier League side this summer.
Derby County player ratings v Shrewsbury as Collins scores and Ozoh impresses

Derby County’s pre-season preparations continued on Saturday as they suffered a 2-1 defeat at Shrewsbury Town. The Rams, who gave David Ozoh a first start, fell behind when Tommi O’Reilly’s deflected free kick beat Josh Vickers, although James Collins nodded the Rams level from a corner. The Shrews, though, won the game in the second half when Tom Bloxham converted from close range.

Shrewsbury, who had been beaten by Birmingham City and Leicester City on home soil already this week, began tidily in possession, although the first opportunity came of note fell to the Rams – and to Eirin Cashin, who met Ben Osborn’s outswinging free kick to the back post but, unmarked, he failed to keep his header down and on target.