The versatile left-sider returns to Sky Bet League 1 after a successful spell with Scunthorpe United earlier in the campaign where he made 14 league appearances.
Rowe returned from the Iron and turned out three times for Wolves in February.
The 27-year-old joins his former manager, Darren Ferguson, at out-of-form Rovers and is eligible to face the club where they were previously together, Peterborough United, on Saturday afternoon.