The former England Under-21 international has struggled for first-team opportunities this summer, making just two Premier League appearances, and he has now been allowed to join the Cottagers until the end of the campaign.
Fulham have been on a resurgent run over the past couple of months and the club are sitting seventh in the Championship, just one point and one place outside of the play-off positions.
Targett is looking forward to playing regular football in the second-half of the season and he wants to help Slavisa Jokanovic’s side continue their charge of a top-six finish.
“I’m really happy to be here,” he told fulhamfc.com. “I am looking forward to helping the side push on to the play-offs. One of the main reasons I joined is that club is in a great place at the moment and the results have been fantastic. I can’t wait to be a part of that.
“I am very excited to make my Fulham debut and the most important thing is that we pick up the three points when I do.”
Pedro stepped off the bench to send Chelsea into the FA Cup semi-finals after they beat Leicester 2-1 at the King Power Stadium on Sunday evening.
RB Leipzig came from behind at the Red Bull Arena to end a run of four winless games and defeat Bundesliga leaders Bayern Munich 2-1 on Sunday.