Whaley came through the ranks at Bury and impressed at Preston, but his career has stalled since leaving Deepdale for Norwich in July 2009.
Brewers boss Paul Peschisolido told the club website: "He's got an opportunity here to re-establish his career."
Peschisolido added: "He's a good player but he's been out for a little while now.
"I think he can really benefit us with the amount of games we've got left to play."
After scoring 17 goals in 131 appearances for Preston, Whaley failed to establish himself at Norwich, starting only six games for the Canaries and being sent out on loan to Rochdale, Bradford and Chesterfield.
Source: BBC Sport
Source: BBC Sport