The 21-year-old has previously spent time on loan with both Leyton Orient and Gillingham, and will go straight in to Stanley's squad for their season opener against Newport on Saturday.
"We're delighted to be able to bring Michael in," said Accrington manager James Beattie.
"He's a great young player who already has experience in this league and the one above."
Richardson is looking forward to being a regular fixture in Beattie's line-up.
He said: "First-team football is exactly what I need. I want to come out and get as many appearances under my belt as I can to help further my career and help Accrington as much as I can.
"Hopefully I can get regular games and play as well as possible and that feedback will go back to Newcastle to help me further my career there."