McDonald's month-long stay with the Iron has been wrecked by a back injury, but he underlined his quality with a fine display in Saturday's 4-2 home defeat to Cardiff.
It was his first start for the Iron and Baraclough plans to speak to Burnley counterpart Brian Laws about keeping McDonald at the club.
Baraclough said: "I'd like to extend his loan. He's got good qualities and if fully fit he will be a fantastic player.
"I will speak to Kevin and Brian. He knows he has a chance of playing games here while he might not at Burnley. I'll see what Brian says but hopefully we can keep him for another month."