The 24-year-old made 19 appearances for the Terriers last season, scoring once in the 3-2 win over Rotherham United in February, as David Wagner's men achieved promotion to the Premier League via the play-offs.
A foot injury sustained in the 1-1 draw with Aston Villa in August saw him ruled out for five months and he made just eight starts throughout the campaign. Lolley was not used in the squad for any of the play-off games.
Barnsley and Sheffield United have been monitoring Lolley through pre-season while Sunderland are weighing up making a move if their bid to sign Bournemouth's Max Gradel fails.
Wagner wants Lolley to stay and sign a new deal
But Huddersfield boss Wagner is not interested in selling the man the Terriers paid Kidderminster Harriers £250,000 for in January 2014.
Despite nine new signings making their way to the John Smith's Stadium this summer, Wagner is a manager who likes to rotate the team and is keen to have strength in depth for their first campaign in the top-flight for over 40 years.
Lolley has been playing in the No.10 role behind the striker and impressed in that position in a friendly win over Barnsley in July.
The German is keen to offer the Redditch-born winger a new contract in order to warn off any interest, though much will be dependent on Lolley's desire for more regular starts.
Lolley, who has two years left on his current deal, has flair and versatility and is able to play wide or as an attacking midfielder.
Huddersfield will kick-off their Premier League campaign away at Crystal Palace on August 12.