The loan will last for the rest of this season and saves Mifsud who had priced himself out of a permanent move to Oakwell with demands of £20k a week wages, from being left out of the cold at the Ricoh Arena.
Mifsud told Barnsley's official website: "Barnsley showed non- stop commitment to getting me to join them, including getting Heinz Muller to ring me night and day.
"I have also spent two days at the club talking to Simon Davey and Don Rowing and looking at the facilities. I had the chance to join other Championship clubs and had strong La Liga interest, but the important thing is to get the chance to play in a direct attacking role
"I must say that the signing of Daniel Bogdanovic was influential, a very clever ploy indeed.I look forward to playing with my Malta strike partner and getting the chance to play with Heinz again.
I was close to signing a permanent deal, but I just needed more time to think it through and time was in short supply. I can't wait to get playing and help the team move forward."