The 31-year-old Republic of Ireland international striker, who does not figure in Leeds head coach Neil Redfearn's first-team plans, will stay at Town until January 3 and will be ineligible for the Championship clash between the two teams on December 6.
Hunt has made only two appearances for Leeds this season, he last featured in the Capital One Cup win against Accrington in August, and has struggled to make an impact since arriving at Elland Road on a free transfer from Reading in July 2013.
He failed to register a goal in 20 appearances for Leeds last season and is set to join up with brother Stephen at Portman Road.
Hunt, who started out at Shamrock Rovers, had spells at Dunfermline and Dundee United before Reading paid £600,000 to sign him in July 2008. He scored 39 goals in 162 appearances for the Royals.