Shorey, 28, won two England caps during a successful time at Reading but has failed to establish himself since a move to Villa Park in 2008.
Villa boss Martin O'Neill recalled the England international from his loan at Coca-Cola Championship side Nottingham Forest last week, but he has now allowed the 28-year-old to join Fulham, who are struggling at left-back thanks to an injury to Paul Konchesky.
The Cottagers have the option to make the transfer permanent should Shorey impress boss Roy Hodgson.
Fulham earlier completed the long-running deal for Italy Under-21 international striker Stefano Okana from Roma while Diomansy Kamara was moved on, also on loan, to Celtic for the rest of the campaign.
Shore thing: Nicky Shorey has two England caps, including the first international to be played at the new Wembley
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