The 22-year-old has played eight times this season, but has not featured since November's 4-0 Johnstone's Paint Trophy defeat by Wigan.
Oliver, who began his career with Sunderland but never appeared for the Premier League side, had a three-game loan spell with Hartlepool in 2014.
Morecambe are currently 18th in the table and face Plymouth on Good Friday.
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League Two side Morecambe have signed Blackpool midfielder Connor Oliver on loan until the end of the season.