The 25-year-old Bear had five goals and nine assists in 58 games for the Hurricanes last season but has yet to appear in an NHL game this season. He has 13 goals and 34 assists in 190 career NHL games with Carolina and Edmonton.
"We're pleased to have added an established defenseman to our blue line," Canucks general manager Patrik Allvin said in a statement. "It gives the coaching staff another option with his right shot, his ability to move pucks, and his ability to get the puck out of our own end quick. [Bear's] transition game has been something that I've watched over the years that I like."
Carolina will retain $400,000 of Bear's $2.2 million contact that is due to expire at the end of the season.
The 25-year-old Pederson is scoreless in four games this season for the Chicago Wolves in the American Hockey League. He has a goal and four assists in 44 NHL games with Arizona and San Jose.
Vancouver beat Seattle 5-4 on the road Thursday night to end its season-opening losing streak at a franchise-record seven games.