The 18-year-old midfielder, who is a product of the Toffees’ Academy system having joined the Premier League side at the age of five, is the U’s third loan signing this week.
Ledson, who last week helped England Under-19s to a 2-2 draw in Holland and a 5-1 victory over Japan, goes straight into the squad for the League Two clash at home to Accrington Stanley on Saturday.
Ledson helped England U19s defeat Japan 5-1 last week
“I feel we have acquired the services of one of the brightest young talents in English football,” said Cambridge boss Shaun Derry after sealing the deal.
“Ryan is clearly willing to take his career to the next level by joining Cambridge United, where he will have the opportunity to play his first League matches.
“I would like to place on record my huge gratitude to Everton Football Club for making this loan deal possible.”
Speaking on his Twitter account, Ledson said: “Happy to have signed on loan at Cambridge United. Looking forward to the first game tomorrow.”
Ledson has represented England at U16s and U18s level, and he captained the Young Lions as they lifted the UEFA European U17s Championship last summer.
The 2014/15 season saw the youngster make his professional debut at Goodison Park in a Europa League clash against FC Krasnodar, and Ledson could be in line to make his Football League bow for the U’s on Saturday.
The Liverpool-born ace is also eligible to play in Cambridge’s Emirates FA Cup second round tie with Doncaster Rovers in December.