Wanderers boss Dougie Freedman has beaten off competition from a number of clubs to land the 24-year-old former Everton youngster.
Jutkiewicz has struggled for form this season, scoring just twice in 24 appearances, and has failed to nail down a regular place in the Boro starting XI.
However he will increase Freedman's attacking options following David Ngog's departure to Swansea and he was signed in time to feature in Tuesday's game against QPR.
Freedman told his club's official website: "Lukas is someone I have admired for a while. I've known of him for a long time, going back to his Everton days.
"I believe that if Lukas can find the right club that can provide him with the right sort of service he can quite comfortably be one of the top strikers in this division.
"Because of his pedigree he is someone who is ready to be involved right away."
Jutkiewicz, who will wear the No 29 shirt for Bolton, started his career with Swindon and had loan spells with Plymouth, Huddersfield and Motherwell during his time with Everton.
He signed for Coventry after leaving Goodison Park and joined Middlesbrough for £1.3m in January 2012.