Stevenage midfielder James Wallace has had his loan spell ended and has returned to parent club Everton without playing a single game.
Former boss Graham Westley signed the 20-year-old last week on a one-month deal before he left to take the vacant managerial position at Preston.
"There is still a view to resurrecting the deal in the future," read a statement on the club's website.
"However as it stands Wallace has returned to the Premier League club."
The statement continued: "After discussions with Everton FC it was decided to be in the 20-year-old's best interests, after he was recruited by former manager Graham Westley prior to his departure."
Wallace has one senior Toffees appearance to his name and featured three times for Shrewsbury during a loan spell earlier in the season.