33-year-old Liddle has made seven first-team appearances since re-joining the Victoria Park side earlier this season, and, according to Challinor, is also keen to remain in the North East.
Liddle spent six years with the Pools between 2006 and 2012 and after struggling to secure a regular starting place since joining the Saddlers last summer is said to be happy to return to the National League side.
Speaking via the Hartlepool Mail, Challinor said; "Lidds will be here to the end of the season in principle, it’s been agreed with Walsall.
"It’s a positive one because he’s enjoyed his time here and settled in really, really well and been a big plus for us. We’ll have him with us until the end of the season and then see where we are with him moving forward.
"He’s one who I’ve spoken about for next year and if something can be sorted then it’s definitely something we’ll look at."