GREATER Western Sydney coach Leon Cameron admits it is "unlikely" homesick key forward Cam McCarthy will return to the club, but has refused to give up hope.

McCarthy, 21, was granted indefinite leave in January to return home to Western Australia and was given permission to train with WAFL club South Fremantle.

Cameron said the likelihood of McCarthy resuming his AFL career at the Giants was low.

Match preview: Essendon v Greater Western Sydney

"It looks more and more unlikely. We're halfway through the year," Cameron told Fox Footy on Monday night.

"What is really pleasing though is that he's healthy within himself … (and) he's doing a fair bit of work with South Fremantle, which I think was a great choice for Cam and also the footy club to come up with that idea." 

The Giants' coach added that the club would not give up on keeping McCarthy on its playing list and would continue to work with his manager Colin Young to reach a suitable outcome.

"If there's one per cent chance (of keeping McCarthy) then we'll continue to look at that one per cent," Cameron said.

"He's a really good person that's gone through a tough 12 months, but we'll keep fighting for that one per cent."

McCarthy kicked 36 goals in his 21 appearances for the Giants since being recruited by the club with pick No.14 in the 2013 NAB AFL Draft. 

He sought a trade to Fremantle in last year's NAB AFL Trade Period, but the clubs could not come to an agreement given the 192cm goalkicker had two years to run on his contract.