The 27-year-old is eligible to take part in the League One clash with Rochdale this weekend.
The former Everton youngster has scored three times in 16 appearances this season for Fleetwood, and is highly rated at Fleetwood - but has struggled to break into the side following injury earlier this season.
Best suited to the number 10 role, McAleny can also play as an out and out striker or on the left wing.
Sam Ricketts was delighted to welcome the forward to the Meadow.
“He’s a player with real big ability. I’ve known of Conor for about four years now - he’s had some good spells at Wigan and Oxford." Ricketts said.
“He has real quality, can score goals, can assist and works hard. He’s been unlucky in that his career hasn’t really ignited.
"He has really good ability on the ball. Graham worked with him at Wigan but he's someone I have known about for a number of years."