Stamford Bridge youngster will play at the Imtech Arena.
Chelsea have agreed to sell defender Slobodan Rajkovic to Hamburg for around £2million.
The 22-year-old has agreed a four-year deal with the Bundesliga side after failing to establish himself at Stamford Bridge.
The Serbia international joined Chelsea in 2007 but did not make a first-team start. He spent time on loan at PSV Eindhoven, Twente Enschede and Vitesse Arnhem.
Since former Chelsea official Frank Arnesen arrived in Hamburg to become director of sports, the German club has signed five young players from his former club.
The other four are Jeffrey Bruma, Michael Mancienne, Gokhan Tore and Jacopo Sala.
Hamburg have made a poor start to the season and have taken one point from three league games, conceding 10 goals. They were thrashed 5-0 by Bayern Munich on Saturday.
Hamburg coach Michael Oenning said Rajkovic could play when Hamburg hosts Cologne on Saturday in a match between the Bundesliga’s bottom sides.
“He is tall and an uncomfortable opponent who can scare other players,” Oenning said of Rajkovic.
“He is bringing a quality we do not have and we need right now. On top of that he is left footed.”