FA Cup finalists Palace have two league games to play before meeting Manchester United at Wembley on 21 May.
They face Stoke City and Southampton and Kaikai, 20, hopes to figure soon for the Premier League club.
"My aim is to break into the first XI as soon as possible and take my chance when I get it," he told BBC Sport.
Shrewsbury secured their safety with a game to spare on Saturday despite losing 4-3 at home to Peterborough United, having been 3-0 down with 16 minutes left, as Blackpool and Doncaster Rovers both lost.
Striker Kaikai will now not have to turn out in Town's final game of the season at Swindon on Sunday.
He leaves having scored 12 goals for Shrewsbury in two separate loan spells to finish as the club's leading marksman this season - and some of them have been memorable strikes.
"It's down to self-belief and practice," he said. "I put a lot of time in after training working on my shooting and dribbling. I'm confident that, when I get the ball, I can do something with it.
"It's been a pleasure being here, learning different aspects of the game and I'm grateful for the opportunity.
"Going into next season, it will benefit me. My all-round game has improved. I need to have a solid pre-season and see what happens."
Crystal Palace have recalled Sullay Kaikai from his loan at Shrewsbury after the relegation-threatened League One side secured survival.