The Bolton Wanderers winger’s initial deal expired after Saturday’s victory over Stevenage but, after penning the extension, he will now remain at stadiummk for the rest of the 2013/14 campaign.
Speaking to mkdons.com, Karl Robinson said: “Sanmi is a testament to any young player because of his exceptional work ethic and his desire to want to play football.
“He’s made an impact both on and off the pitch since he’s arrived and we’re delighted to be able to keep him until the end of the season. Importantly, he wanted to stay too.
“I’d like to thank Dougie Freedman and Bolton for allowing us to get this deal done.”
Odelusi joined the Dons on a one month’s loan in February and impressed on his debut at Bradford City. The 20-year-old has made a total of six appearances for the Dons so far and has started the last four games.