The 20-year-old scored three goals in 20 appearances for the Bees during a loan spell last term.
Argyle have agreed to a new temporary deal that will see Bolasie start the season at Barnet and stay there until December 31.
Barnet manager Ian Hendon has not yet finished his summer spending.
Hendon has drafted in three new players during the last week - Bolasie follows Micah Hyde and Jake Cole to Underhill - and has targeted several more additions.
After drafting in Bolasie, Hendon said: "Hopefully there are more players to come."