Mohammed Rehan Awan, who goes by the name Ronnie, is wanted by police in connection with an aggravated burglary on Devon Road, Blackburn on January 29.
Ronnie, who also uses the name Rahan Malik, is also wanted for absconding from HMP Kirkham nearly eight months ago on October 25, 2019.
He was jailed for 10 years for possession with intent to supply Class A drugs in June 2017.
Ronnie, 30, has been in hiding since he absconded, and police now believe he may be using the canal paths to get around East Lancashire.
A spokesperson for Lancashire Police said: "We have new information on Ronnie that he has been using the canals to get around, so he knows that the net is closing in. It would be in his own interest to do the right thing now and hand himself in.
"I would also urge anybody who has any information about his whereabouts to please let us know, anonymously if necessary.
"It is also very important to remember that it is an offence to assist an offender."
Ronnie, formerly of Livingstone Road in Blackburn, is described as around 5ft 8in tall, of slim build, with short black hair, and a full beard and moustache.
He is believed to have links to Clitheroe and Nelson.
Anyone with information about his whereabouts can contact police by calling 101 or emailing [email protected]n.police.uk, quoting log number 0374 of January 29.
Alternatively, independent charity Crimestoppers can be contacted anonymously on 0800 555 111 or via their website https://crimestoppers-uk.org/