Spurs will reportedly scrap plans to send the striker back out on loan next season should they be relegated from the Premier League.
The 20-year-old is set to be given a chance to impress new boss Roberto De Zerbi, according to SportsBoom, if worst comes to worst for the North London club, with Lankshear becoming a fan favourite and standout star for the relegation-battling U's.
Lankshear has bagged 10 goals and three assists in a season of struggle for the Yellows and has played 43 times in a breakout season for the youngster who is on loan until the end of the season.
It was recently reported that the centre forward turned down moves to higher-placed Championship sides in January in order to see out the fight for survival in OX4, further endearing himself to the U's faithful.
Lankshear's parent club Spurs are currently fighting for their lives in the Premier League, sitting 17th and one point above the bottom three.
Staff at the Tottenham Hotspur stadium are apparently convinced that the England Under-20 international has both the experience and pedigree to stake a claim for a regular first-team role.
The Lilywhites recently appointed former Brighton and Marseille boss De Zerbi on a five-year contract, replacing Igor Tudor in an effort to stave of relegation, with the Italian seemingly trusted to steady the ship if the club does go down.