Rovers had confirmed that a number of Nationwide league clubs were eyeing the powerful defender, and Burnley have won the chase.
Todd becomes Burnley's third loan signing this week after the arrival of Delroy Facey and Gareth Farrelly on Monday.
The stopper brings a wealth of experience to a Clarets defence that proved one of the most profligate last term.
Manager Stan Ternent has already drafted in David May, another ex Rovers player, and Burnley's squad is beginning to take shape.
