The goalkeeper agreed to join the Potters in January from Birmingham City, but he spent the remainder of the campaign with the Blues in the Championship.
It was reported that he has been signed to replace Asmir Begovic, who has been linked with a host of clubs. However, speculation regarding the Bosnian's future has died down in recent weeks and it appears that he will now remain at the Britannia Stadium.
As a result, Stoke are willing to loan out 20-year-old Butland to avoid his progress from being stunted, according to the Daily Mail.
The report went on to claim that Spanish side Real Sociedad are among the teams who would be interested in his services.