O'Connor has made just one first team appearance for The Arabs this season after joining them from Hednesford Town in February 2000.
The tall 19-year-old's arrival at Spotland follows suggestions earlier this year that Rochdale may be looking to add a striker to their squad in order to facillitate the sale of Clive Platt (pictured).
The club were also linked with a move for Blackpool's highly-rated young forward Adam Nowland, who is also out of contract during the summer.
