Frimpong, 20, returned from a lengthy injury absence to feature in the Capital One Cup in September but has failed to appear in the Premier League or Champions League.
He will now join the Addicks for a second loan spell away from Arsenal, having played five times for Wolverhampton Wanderers last season before suffering a knee ligament injury in February.
“We’re really happy that he’s coming in to join our squad, and we welcome him to the club,” said manager Chris Powell.
“We’ve had our eye on him for a while, and with the busy Christmas period to come, I felt it was right to make sure that we are covered in all areas.
"We hope that he does very well for us in the red or black of Charlton.”
Frimpong emerged from Arsenal's youth system having joined in the same intake as Jack Wilshere and has made 16 appearances for the club.