The 24-year-old joined the London outfit from Benfica last summer, but made just two substitute appearances in the Cottagers' 2010/11 campaign.
Jol, who replaced manager Mark Hughes in June, admitted that a move could be beneficial for both sides.
"I think Halliche is a good player, better than we probably give him credit for because he could not show last year and couldn't show this year," he said.
"But, of course, I have different players at the back - good players - so there is probably not an opportunity for him to play.
"I don't expect him to leave before the end of the transfer window, but that is what Halliche hopes for and that is what I hope for."
Fulham face Mick McCarthy's Wolverhampton Wanderers today (Sunday) at Molineux, following a 0-0 draw at home to Aston Villa in their first game of the season.