The 19-year-old drops down to League One after making his first four senior appearances for the Reds in the first half of the campaign, debuting against Leicester City in the third round of the EFL Cup.
Since being handed his Liverpool baptism by Jurgen Klopp, Chambers has turned out in three Europa League matches - earning starts against Toulouse and Union SG - and he has made the bench on four occasions in the Premier League.
Owing to injuries to Andrew Robertson and Kostas Tsimikas, Chambers was the only recognised left-back in Klopp's ranks for a short while, but the experienced Joe Gomez was preferred on that side of the backline.
With Owen Beck also returning from his loan spell with Dundee and Conor Bradley impressing at right-back this month, Liverpool have allowed Chambers to depart on loan despite their defensive injury crisis, and he follows Fabio Carvalho, Marcelo Pitaluga and Vitezslav Jaros out of Anfield on a temporary deal.
"I'm over the moon to sign here. It's such a historic club with a lot of great players here, and I've come here to help the team win games and get as far as we can in the league," Chambers told the official Wigan website.
"I came to watch a few of the games - I thought the style of play was good, and I feel like I fit right in. The Club has a great following also, which makes it intriguing.
"It's about getting experience now. I had a little snippet of first-team football back in January, so it's about building on that and looking to push my career. I can't wait to get going, show the fans what I can do and hit the ground running."
Latics head coach Shaun Maloney also hailed the teenager's versatility and hinted that he could use him in a central role over the next six months, adding: "I'm really happy to get Luke through the door.
"He's the perfect profile for that left-back position; he can play in a three as a centre-back or as a full-back, he brings lots of technical quality, and he's good physically. We need competition.
"We've relied very heavily on Sean Clare and Steven Sessegnon, and now we've got Luke Robinson back, so it gives Tom Pearce time to get back to his best, but overall, I think Luke's got a lot of talent, and I'm really happy to have him here."
Finally, sporting director Gregor Rioch added: "We are very excited to sign a player of Luke's calibre and quality, and I'd like to personally thank Liverpool FC for their support in enabling us to bring Luke to our Football Club. He will be a fantastic addition for us and I am looking forward to watching his progression in the coming months."
Chambers has been on the books at Liverpool since the age of six and enjoyed a productive loan spell with Kilmarnock during the second half of the 2022-23 season, setting up one goal in 16 matches.
The defender earned his first two caps for England's Under-20s in November and was a part of the Under-19 squad who won the European Championship in 2022, coming on as a second-half substitute in the final against Israel.