The 33-year-old is in the squad for Tuesday night's trip to Barnsley.
Manager Kenny Jackett moved for the former Crewe, Leeds and West Brom frontman after letting Darius Henderson join Nottingham Forest last week.
Hulse moved to QPR in 2010 but started only 14 games, scoring twice.
He has not made a single appearance in the Premier League this season and had a loan spell at Charlton, during which he played in a goalless draw with the Lions in December.
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- Darius Henderson