Terms were not disclosed but The Athletic reported that the deal is worth $2.75 million.
Chisenhall, 30, has played eight seasons, all with the Cleveland Indians, seeing time at first base and third base, though he has been primarily an outfielder the past two seasons.
"Lonnie Chisenhall adds an experienced, productive and versatile player to our Major League Team," Pirates general manager Neal Huntington said in a statement. "When healthy, Lonnie has been a quality hitter while offering defensive flexibility. He also provides us an immediate option in right field while Gregory Polanco is getting healthy and his abilities and versatility will make our club better once Polanco returns."
Polanco is on track to return between mid-April to mid-June after having surgery in September on his dislocated throwing shoulder.
Chisenhall has a career average of .268 and had his best season in 2014, when he hit 13 home runs and knocked in 59 runs in 142 games.
The Pirates designated right-hander Alex McRae for assignment to make room on their 40-man roster.