The 23-year-old has featured just once for the Premier League club this season and has found his first-team opportunities limited ever since Paul Lambert was appointed manager last summer.
Albrighton shot to prominence during Gerard Houllier's sole season in charge at Villa Park, scoring six times in 33 appearances and was called up to the England Under-21 squad in September 2010.
Latics have moved to bolster their wide options with Scotland international Shaun Maloney facing an extend spell out as he remains troubled by a hip injury.
"Marc has shown what an outstanding player he is time and again in the Premier League, and he is someone I have tried to sign in the past, so I'm delighted to bring him on board to strengthen our squad," boss Owen Coyle told Wigan's official website.
"He's at a young age with the potential and scope to get even better; he's quick, dangerous and pleasing on the eye and I feel he's going to really enhance the attacking options we have at Wigan Athletic, particularly in light of Shaun Maloney's absence."