The 19-year-old England U19 international, who signed a two-year contract extension with the Toffees last summer, becomes Uwe Rosler's first signing since he was appointed manager at the DW Stadium.
Browning has yet to feature in the Everton first team so the loan move to the Latics should give him some valuable experience.
He told Wigan's official website: "It's great to get my first loan experience at a young age, and I'm pleased it's at Championship-level where I know I'll really be tested.
"The aim is to help the team and get as many opportunities as possible; I've met the rest of the squad and they've all been great in helping me settle in.
"Primarily, I play as a centre-half, and I can play at full-back as well, but wherever the manager wants me to go in I will do and give 100% for the team."