He recently asked to be transfer listed in order to find first team football, and the loan switch could become permanent if successful.
Dale manager Paul Simpson said: "Lee Hodges has made it quite clear he wasn't happy with his own situation at the club and that he wanted to play first-team football.
"I told Lee this wasn't something I could guarantee him, and therefore he expressed a wish to leave the club in order to pursue first-team football.
"He has joined Bristol Rovers until the end of the season, and in many ways it puts an end to a disappointing season for all concerned."
If he is not offered a deal to stay at the Memorial Ground Simpson insists that he could still have a future at Spotland