Lawrence was performing the role of joint-caretaker at Palace alongside Curtis Fleming, but a deal has been reached to reunite the 64-year-old with Freedman. A statement on the club's website said:
"Crystal Palace Football Club can confirm that assistant manager Lennie Lawrence has today joined Bolton Wanderers. The board of the club would like to put on record their thanks to Lennie for all his efforts during his time at Palace.
"The board are continuing their search for managerial replacements for Lennie and Dougie Freedman.
"Curtis Fleming will take charge of first-team affairs assisted by development coach Jamie Fullarton and first-team captain Paddy McCarthy."