The Scottish international will link up with the SPL club until January 13th.
Goodwillie joined Rovers from Dundee United in August 2011, but has found first team opportunities limited at Ewood Park, making 34 appearances and scoring five goals.
Rovers boss Gary Bowyer believes the 24-year-old will benefit from the move north of the border.
“We are not pushing David out of the door," said the manager.
“In the two years he has been at the club, he has not played as many games as he would have liked and this move presents him with the chance to play some regular football.
“It is an opportunity for him to go back home and play for the club he joined us from and where he made a name for himself.
“He will have family and friends around him and we expect him to find his feet very quickly. We look forward to welcoming him back in January once he has got some games – and hopefully some goals – under his belt."
• Meanwhile, contrary to reports in today's local newspaper, Rovers would like to make it clear that the club did not miss out on the signing of Crewe midfielder Luke Murphy by £2,000 per month. The personal terms agreed with the player were substantially more than the figure quoted.