The 30-year-old will link-up once again with Norwich manager Chris Hughton, who was in charge at St James' Park between June 2009 and December 2010, as he led the Magpies out of the Championship and back into the top flight.
Hughton feels Gutierrez's Premier League experience can benefit his squad in the fight to secure top-flight survival.
Chris Hughton: "Jonas is somebody that will certainly bring experience - he has played close to 200 games for Newcastle, so he knows the Premier League very well.
"He has been in England for five years, so there won't be that settling in period that you would have with some other players, and that is important, particularly in January when you need players that can go straight into the squad.
"Jonas can play on either flank and in a central position, so he's a very welcome addition and we look forward to working with him."
Argentina international Gutierrez joined Newcastle from Real Mallorca during the summer of 2008, when he signed a five-year contract.
He has made 195 appearances for the club and scored 11 goals, although has figured only twice this season, starting the 4-0 defeat by Manchester City on the opening weekend of the campaign and then coming on as a substitute in the 2-1 Premier League victory at Cardiff on October 5.
Jonas Gutierrez: "It is an opportunity for me to get back in the game and to try and do my best for the team.
"Personally I want to do the right things on the pitch and win my place, and then for the team we want to finish as high as we can.
"It is a tough league, all the games are difficult, but we have a good opportunity."