The 22-year-old Belgian signed for Norwich in the summer of 2019 but has yet to make a first-team appearance.
Hibs boss Shaun Maloney said the new arrival offers "real versatility in different defensive positions".
Maloney knows under-21 cap Bushiri from his time working as assistant to Belgium manager Roberto Martinez.
He added: "Technically, he is very good in possession, and he shows good aggression and speed in defensive actions."
Bushiri is Hibs' fourth January signing after Ewan Henderson, Harry Clarke and Elias Melkersen joined last week.
In addition, American winger Chris Mueller and midfielder Dylan Tait have also become part of Maloney's squad after agreeing moves in the summer.
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