Since moving from Manchester City in 2009, Sturridge has struggled to make his mark in a Chelsea side that includes forwards Anelka, Didier Drogba, Florent Malouda and Solomon Kalou.
He has scored nine goals in the two seasons he has been at the west London club. He also has 10 caps for the England Under-21 team.
Sturridge added: "It has been a very busy and exciting day. I found out that Bolton were interested in me over the weekend and everything has happened fairly quickly.
"I spoke with the manager and he outlined what he hopes to achieve and his plans. It was an easy decision to sign, and I am looking forward to linking up with the squad on Tuesday."
Coyle insists that the arrival of Sturridge will be a huge positive for the club.
"I'm absolutely delighted to bring Daniel to the football club until the end of the season. When we were made aware that there was a chance he'd be allowed out on loan then we certainly tried to do everything we could to convince him that this would be the best place for him," he said.
"I think he's such an exciting young talent who I believe will have a very positive impact, probably similar to the impact Jack Wilshere had last year, because I believe this is a player who is capable of playing in the Chelsea team, as Jack Wilshere was capable of playing in the Arsenal team.
"Sometimes at elite clubs there's a tendency to maybe not quite be convinced because of their youth and everything else, so it gives Daniel the platform to go and show everybody what he has in his locker.
"He has attributes in abundance and I'm very excited to see him in a Bolton shirt," he added.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.