The Italian club have the option to buy the 27-year-old Argentine forward outright for an undisclosed fee at the end of the arrangement.
A statement on Wigan's official website read: "Wigan Athletic can confirm that Mauro Boselli has joined Italian Serie A side Palermo on loan until the end of the season with an option to buy at the end of the term."
Boselli has made 12 appearances for Latics so far this season and scored four goals in all competitions.
It will be his second spell in Italy after a loan stint at Genoa last season which returned just one league goal from six appearances.
Boselli joined Wigan in 2010 from Estudiantes, to whom he returned for a loan spell at the beginning of the 2011-12 campaign.
In all competitions he has made 24 appearances and scored five goals for Roberto Martinez's men.
Palermo confirmed Boselli's arrival at the Stadio Renzo Barbera with a brief statement on their official website, with the striker set to be unveiled at a press conference scheduled for 1pm BST on Tuesday.
- Sports & Recreation
- Mauro Boselli
- Wigan Athletic