The Nerazzurri part company with three of their most promising young players on a temporary basis to let them gain valuable first-team experience at Bologna and Livorno
The 20-year-old had joined Inter from Defensor Sporting earlier this summer, but will now spend his first season in Italy on loan at the Stadio Renato Dall'Ara.
The agreement includes an option for the Rossoblu to purchase half of Laxalt's registration rights at the end of the season.
Furthermore, Inter have also confirmed that promising youngsters Alfred Duncan, 20, and Ibrahima Mbaye, 18, will spend the 2013-14 campaign on loan at Livorno.
Duncan and Mbaye are seen as two of the club's most promising youngsters but have now been shipped out on loan in order to gain valuable first-team experience at the newly promoted Serie A side.
Inter previously already sent Italy Under-21s attacker Samuele Longo out on loan to Hellas Verona.