The centre-back was recalled from a loan spell at Nottingham Forest by the Premier League club on Friday following an injury to James Chester.
Hobbs had been expected to sign a permanent deal with Forest, but manager Billy Davies faces competition from Championship rivals Reading and Wigan for his signature.
Steve Bruce confirmed that the former Liverpool man is set to leave the KC Stadium before the transfer window closes on Friday, but the Hull boss is in the dark as to where he will end up.
"He has permission to speak to them so it's up to him to sort out now," Bruce told BBC Radio Humberside.
"The ball is in his court and we'll see where he goes before Friday."
Hobbs initially joined Hull from Leicester on loan in February 2011 and completed a permanent deal at the end of the 2010-11 campaign.
