Højbjerg has made just one appearance in official competition this season, playing the second half for the Rekordmeister in their 3-1 victory against FC Nöttingen. He was also left off the team sheet for last week's match in Hoffenheim after making the bench in the season opener against Hamburger SV.
"I am excited for the new assignment until the end of the season," Højbjerg told Bayern's website. "I want to get some match experience and continue to show what I am capable of as a player for Bayern. I will do that in Schalke."
Højbjerg returned to Munich after his loan in Augsburg hoping to fight for his place in the side, but the acquisitions of Joshua Kimmich and Arturo Vidal has capped the possible minutes the 20-year-old could have received. His move to Schalke allows him not only to fill a box-to-box role in Gelsenkirchen, but also to get him regular minutes for a club who is in three competitions.
"This is a one that is a good solution for all three sides," said Matthias Sammer. "We are putting a lot of big hopes on Pierre-Emile Højbjerg and we see his future in Munich. In order to continue his development though, he requires match experience that he should get at Schalke."