"I was aware of Michael Barnes at Man United and I believe he has been told that he won't be retained at United at the end of the season," Shrews boss Paul Simpson told his club's official website.
"It was something I was going to assess between now and the end of the season by watching him in the reserves but the opportunity has arisen to get him in here.
"I've signed him on loan until the end of the season and if he is what we are looking for then we will look to try and do something in the summer.
"He is an exciting player and has got great pace about him which I think we are lacking a bit."