Livermore, 21, will stay at Elland Road until May 31 and will be available for the play-offs should Leeds finish in the top six.
Leeds manager Simon Grayson said: "Jake is a hungry, young player who has gained good experience at this level with both Derby and Ipswich.
"We're at an important stage of the season and he gives us increased competition for places. He's a good addition to our squad."
Livermore, a product of Tottenham's academy, has had loan spells with Derby, Peterborough, and Ipswich.
He played against Leeds earlier in the season for the Tractor Boys at Portman Road.
Source: PA
Source: PA