24-year-old Donaldson was linked with the Railwaymen back in February but then it seemed that the player wanted to fight for his place at Easter Road.
The former York striker has failed to settle North of the Border and now it seems come the summer Hibs will let him go for a small fee.
With talk of Nicky Maynard possibly leaving in the summer it seems Crewe could find an ideal replacement in the shape of Donaldson.