Villa's work in the transfer market has been restricted this summer due to FFP, but the arrival of new owners Nassef Sawiris and Wes Edens has given the club more leeway ahead of the end of the window.
The West Midlands outfit have completed the temporary signing of 23-year-old El Ghazi, who started his career at Ajax and has spent a year playing in Ligue 1.
El Ghazi told the club's official website: "I am thrilled to join a football club of the size of Aston Villa. I visited Villa Park late last night after flying in from Holland and it gave me goosebumps.
"I can't wait to get out there and experience it for real and play in front of such passionate fans."
El Ghazi could make his debut when Villa host Reading in the Championship on Saturday afternoon.