The former Blackpool winger turned down Inter to join the Tigers in the summer, but has managed just three Premier League starts for Steve Bruce's side this season.
He has already spent two months of the campaign in the Championship at Derby's east Midlands rivals Nottingham Forest, but he started just four matches at the City Ground.
The England Under-21 international will help fill the void left by Jordan Ibe's return to Liverpool, and manager Steve McClaren is hopeful Ince will boost his team's push for promotion.
"Tom Ince is an exciting talent and we’re pleased that he will be spending the rest of the season with us," he told the club's official website.
"We’ve obviously found ourselves a bit short out wide lately with Jordon Ibe returning to Liverpool and Johnny Russell picking up a hamstring injury, so to bring someone of Tom’s calibre in is a real coup for us.
"He knows what the Championship is all about and has made a real impact in the division before, so we hope that he can have an influence on our side for the rest of the season."