Harriott, 19 is expected to make his Brewers debut tonight against Port Vale and his signing by boss Paul Peschisolido could prove a catylist in ending an 11 match winless run.
"We're in a situation where we need a spark. We want to get out of the rut we are in and we could do with a bit of a livener," Peschisolido said.
"Lionel's a bundle of energy, has plenty of pace, an end product and scores goals. "He's a player who we've admired for quite some time but obviously because of his quality Shrewsbury were very reluctant to let him out.
"Matthew's a young lad who I've watched a few times now in reserve team games. He brings us athleticism in the middle of the park which is something I think we need."
They have also recruited Lionel Ainsworth, 24 on loan from Shrewsbury Town.
Harriott now becomes one of four players out on loan with David McAllsiter (Shrewsbury Town), Erik Tonne (York City) and Corey Gregory (Leicester City) currently away from Bramall Lane.