The 30-year-old defender signed a short-term deal with the Cumbrians in January but hopes he can convince manager Greg Abbott to keep him on.
"This is a really good club and I'd certainly like to explore the option of staying once we get to the end of the season," he told the club's official website.
"It's a club that can push for the play-offs in the future and it's the ambition of every player at this level to get into the Championship. I'd love to be involved with that.
"The fans have been really good to me since I got here and it'd be good if I could chip in with a few goals for them between now and the end of the season."
O'Hanlon had been without a club since August having been released by Scottish Premier League side Hibernian. He has made six appearances for the Blues since his arrival and feels he is improving with each game.
He added: "I'm really enjoying my football at the moment. Hopefully I'm showing people what I can do.
"I haven't played for a while so to get a week like this, with three games one after the other, has been really good for me."