As part of the deal, North End goalkeeper Andrew Lonergan is to train with the Toffees a couple of times a week, but will remain part of Phil Brown's squad.
Preston chairman Maurice Lindsay told the Evening Post: "Phil Brown wanted competition for Andrew Lonergan for the goalkeeper's position.
"We agreed a deal with Everton for Iain Turner and will take him on a 93-day loan.
"During the discussions with David Moyes, it was suggested that Andrew could train at Everton two or three times a week to give him some freshness. That will happen, but he won't be leaving our register and we will continue paying his salary."
Source: PA