The French international was the Bulls' top points scorer in League 1 last season and scored a try when Bradford beat Rovers 17-16 at Odsal in February.
Featherstone were dealt a blow yesterday when on-loan half-back Ben Reynolds was recalled by parent club Wakefield Trinity.
However, Ryan Carr has acted quickly to bolster his side, with Chisholm available for selection for the clash with York City Knights on Good Friday.
"I can't wait to get playing," Chisholm said.
“It’s already a team with a strong squad, so hopefully I can just add a bit of structure and experience.
“I’ve already spoken to Ryan [Carr] and Cameron King and it’s all been really positive.
“Kingy’s playing great and does a good job with the forwards and I should be able to come in and help us end sets.”
The 28-year-old has already got a good relationship with head coach Carr, with the pair having played together at Balmain Tigers in Australia.
Chisholm's loan deal is set to run until the end of the season, as Featherstone look to reach the Championship play-offs.
Carr said: "We’re really happy that Dane has agreed to come over.
“I played with Dane back in Australia and I’ve known him for a long while now.
“I think he’s going to bring a lot to our team and add some things that we’ve probably been missing over the first part of the season.
“We’ve gone out and we’ve targeted him, because his assets match up to the areas we need.”
He added: “I’d like to hope that our relationship will get us off to a really good start and I know that he’ll buy into the team really quickly.
"We’ve got a great group of blokes here and they’ll welcome him in. I’m sure.
“He’s got a really good kicking game, good control. He beat us in round one, pretty much on his own with his kicking game.
“Hopefully he’ll bring that experience and that knowledge of how to manage games to us. That’s what we’re looking for the most.”