The 21-year-old has had previous loan spells with Colchester and at Brentford but has yet to make an impact at Pompey.
He will have the squad number nine and will go straight into the team for the opening day fixture at home to Oldham.
Luton boss Mike Newell told the official club website: "It's three months with a view to signing him for the whole season, if he does well for us that is what we would be after. "/fontfamily>