The Glovers have been chasing the former Crewe Alexandra and Shrewsbury Town striker for the last fortnight and boss Russell Slade has finally landed his man.
Vale secretary Bill Lodey told his club's official website: "Luke has joined Yeovil on an emergency loan until January 5 following talks he had with the club in the past few days.
"Whether they will come in with an offer for the player once that loan period is over remains to be seen."
Rodgers moved to Vale Park from Crewe for £30,000 in January 2007 and has scored 16 goals in 59 League appearances for the club.