The highly-rated forward enjoyed a successful spell with Birmingham City earlier in the season and will aim to aid the Seagulls' bid to reach the Championship play-offs.
The 93-day deal will allow Lingard another opportunity to benefit from first-team football and means he is eligible for the remainder of the campaign.
Reserves coach Warren Joyce praised the 21-year-old this week after his excellent winner against Sunderland at Under-21 level, paying full credit to the player's attitude and professionalism. Lingard's strike at the AJ Bell Stadium was his sixth of the Barclays Under-21 Premier League this term as he is the Reds' top scorer in the division.
Brighton coach Oscar Garcia told the club's official website: "We are delighted we have finally secured Jesse until the end of the season. He is one of the most exciting young English strikers and has already created a lot of interest following his successful loan spell at Birmingham City earlier this season.
"We worked hard to secure a talent who has already shown he can play at Championship level, and I am very pleased to have added Jesse to our striking options for the rest of the season.