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Baxter, 19, joins on loan until the end of the season and could make his debut tonight away to Pontefract Collieries.
He came through the youth system at Deepdale and earned his first professional contract of the summer of 2018.
“Jack is an excellent player, who’s got a bit of everything,” said a delighted Brown, who has been looking to strengthen his squad to enhance the Blues’ play-off prospects," said manager Phil Brown.
“He’s good on the ball, he competes well off it and when the opportunity arises, he’s got an eye for goal.
“Jack’s a great signing for us and I am very grateful to Preston for allowing us to have him.”
The club have also announced that Mitch George has agreed to extend his work experience loan from Burnley.
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