Gillespie, 33, has been out of favour with the Blades and their boss Kevin Blackwell and has joined the Addicks till January 3rd.
The deal also has a 28-day recall option which could see the Northern Ireland return to Bramall Lane.
He goes straight into the squad for tomorrow night's local derby against QPR at Loftus Road.
Temporary boss Parkinson is also close to agreeing a loan deal with Bolton for striker Heidar Helguson, whose move to QPR collapsed.