Earlier today Wanderers were rebuffed by their Championship counterparts when they enquired about Freedman's availability.
However, as the day has progessed, the Eagles have now decided to allow their Scottish manager to meet with the Bolton board.
"Following further discussions throughout the day, Crystal Palace Football Club can confirm that permission has been granted for Dougie Freedman to speak to Bolton Wanderers regarding their vacant managerial position," read a statement on the club's official website.
Freedman, who has been in charge at Selhurst Park since January 2011, has guided Palace to fourth in the Championship table after four matches.
Bolton have been without a manager since Owen Coyle was sacked earlier this month.