Lowe has been linked to the Tigers before but the close proximity to his contract expiry date suggests that his name continues to be on Hull's summer wishlist.
West Bromwich Albion and Brighton and Hove Albion are also reportedly keen, with Lowe's next move likely to be determined on whether all those clubs are in the same division or not next season.
A midfielder or right-back, Lowe has made 40 appearances for Blackburn this season, mainly in central midfield.
He has been with the Lancashire club since 2003 after joining as a 12-year-old, making over 150 career appearances in blue and white.
Lowe's agent David Lee is an ex-Hull City and Brighton player.