The 24-year-old Spanish striker, who arrived at Huddersfield in the summer, will stay with the Shrews until November 9 and is expected to go straight into Graham Turner's squad for Saturday's league game against Gillingham.
Huddersfield boss Mark Robins told the club's official website: "We have been impressed with Cristian's development during the last two months and he has done well in training and with the development squad.
"We feel that he has now fully adjusted and settled into life in England and that now is the time for him to go to the next stage, which is to play some first team league football.
"League One is a very competitive level and it will provide Cristian with a tough test. Playing under Graham Turner at Shrewsbury will aid his development and we hope that he can make a big contribution to their campaign.
"With the international break being upon us, the timing is right for him to go out and get competitive games while we have a short break."
The former Real Madrid B striker has made two substitute appearances for Town against Nottingham Forest and Hull in the Capital One Cup.