Lowe, who has won 176 games and was a member of Boston's World Series championship teams in 2004 and 2007, has struggled this season pitching in relief for the Rangers.
The Rangers have 10 days to trade, release, or outright Lowe to the minor leagues. Lowe, who joined the Rangers on March 6 and made the Opening Day roster, went 1-0 with a 9.00 ERA this season.
Lindblom, 25, made his first career start Monday against Oakland, allowing four runs in 4 2/3 innings to record the loss in Texas' 9-2 defeat. The right-hander was optioned to Triple-A Round Rock after the game to create a roster spot for catcher A.J. Pierzynski, who was activated from the disabled list.
Lindblom remains a candidate to start one of the two games in Monday's doubleheader at Arizona. The 10-day rule that requires players to stay in the minor leagues once they are optioned is suspended for doubleheaders.
Todd Wills is a contributor to ESPNDallas.com.