Consider a compact Kahler manifold $M$ of complex dimension $n$ and a holomorphic vector field $X$ defined on it. Let $L$ be the line bundle $\Lambda^nT^{1,0}M$. Then is there a canonical way of lifting $X$ to another vector field $X^* $on $L$?
In general, is there such a procedure by which we can canonically lift vector fields on a manifold to other vector bundles defined on the same manifold?
Yes, there is a way to lift $X$ to the total space of $L := \bigwedge^n T^{1,0} M$ because this particular line bundle $π: L \to M$ is invariant under biholomorphisms.
Since $M$ is compact, $X$ (or rather its real part) can be integrated to a one-parameter family of biholomorphisms $(Φ_t)_{t \in \mathbb{R}}: M \to M$ and these lift to biholomorphisms $\widetilde{Φ}_t : \bigwedge^n T^{1,0} M \to \bigwedge^n T^{1,0} M$ "covering" $Φ_t$, that is \begin{equation} π ∘ \widetilde{Φ}_t = Φ_t \tag{1} \end{equation} (The way you lift them is just putting $\widetilde{Φ}_t(Ω) = \left( Φ_t \right)_* Ω$ for $Ω \in \bigwedge^n T_x^{1,0} M$).
So taking the time derivative of $\widetilde{Φ}_t$ we get a vector field $X^*(p) = \left.\frac{d}{d t}\right|_0 \widetilde{Φ}_t(p)$ and by equation (1) we see that $X^*$ is a lift of $X$.