The Coventry City central defender is well-known to manager Aidy Boothroyd from his time in charge of the Sky Blues and arrives as cover for the injured Kelvin Langmead.
On the fringes of the first team at the Ricoh Arena throughout this season, 21-year-old Cameron made a return to the starting XI recently but a poor performance against Swindon Town saw him replaced by William Edjenguele.
Cobblers skipper Langmead suffered a knee injury against Oxford at the weekend and will have to undergo surgery.