With Reds central defender Iain Fyfe set to depart the club at the end of the month to take up his contract with Korean outfit Busan I'Park, the club approached the Fury about taking Malik earlier than expected.
North Queensland agreed to release Malik who will return to his former club sometime today.
"It's fantastic that Osama can join us now and be part of our squad," Adelaide coach Rini Coolen said.
"We want to sincerely thank North Queensland Fury for allowing Osama to come here early, without their cooperation this could not have happened."
Malik, who has made 17 appearances for the Fury this season, will not be considered for the Reds' next A-League match, ironically against the Townsville club this Friday night.