The 22-year-old had made 17 appearances for the club, scoring four goals, since arriving in August, including the full 90 minutes as MK won 2-1 at Portsmouth on Saturday.
It appears he might get that chance now, after Reece Burke picked up an injury against Bournemouth on Saturday, while Tom Lockyer hasn't featured recently either and Luton travelling to Reading tomorrow evening.
A statement on the Hatters' official website said: "We can confirm that Peter Kioso has today been recalled from his loan spell with Milton Keynes.
"The 22-year-old played three times in the Championship this season before heading out to League One, where he played 17 times, scoring three times and assisting four goals.
"Kioso has now rejoined his Hatters team-mates at The Brache as they prepare for tomorrow night's game away at Reading."
Meanwhile, Dons' sporting director Liam Sweeting said of the club's former youth academy product: "Peter displayed real passion, determination and commitment towards playing for MK Dons and we are so appreciative of his efforts and performances this season.
"Ultimately, though, Luton are in control of his situation and we have to respect their decision to recall him at this stage.
"There are still two weeks left in January and we are working hard to strengthen our squad ready for an important final few months of the season.”