The Congo-born man has helped The Latics to an unbeaten run of three draws and three victories since he made his debut for the Second Division crisis club at Hartlepool United.
Zola Makongo has scored three times for the club during his initial loan at Boundary Park and manager Iain Dowie will be delighted to have the young striker for another four weeks.
The news comes as a positive sign at Oldham, as dark clouds still loom over their current financial situation, with administrators warning potential investors to get a deal done before Monday or they may be forced to shut the club down.