The 27-year-old, who has made a total of 171 Premier League appearances for Liverpool and Southampton, joins until the end of the season.
"I'm really excited by this opportunity," Clyne told the club's official website. "It's great chance for me to come and play football.
"I've spoken to the manager and we've talked about what we can achieve for the remainder of the season. It's a great club with a great story. I can't wait to get going."
Clyne is AFC Bournemouth's second signing of the January transfer window from the Reds.
Earlier in the day Dominic Solanke made a permanent move to Vitality Stadium.
AFC Bournemouth are next in Premier League action on Sunday 13 January when they visit Everton.