The 18-year-old will be eligible to play in the Reds' game at Vauxhall Motors on Tuesday night, subject to the necessary paperwork going through in time.
Hazel, a product of the youth system at Chesterfield, made his first senior appearance for the club as a substitute in the Johnstone's Paint Trophy tie against Oldham in September. He also played in two League Two games later that month.
The teenager has also had a spell on loan at Matlock Town this season.
The agreement with Workington includes a 24-hour recall clause after 28 days.