The 18-year old striker, who joined the Dons from Queen's Park in the summer, will head out to the Scottish League One side in order to gain further first team experience.
Dons boss Derek McInnes said: "He will benefit from the experience."
Shankland arrived at Pittodrie after scoring 14 goals for Queen's Park last season but is yet to feature for Aberdeen's senior side.
Meanwhile, midfielder Jamie Masson has agreed to join League Two side Elgin City for the remainder of the season while Scott Rumsby has extended his current loan deal with Stranraer.
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