“Guido represents a very exciting addition to our attacking options ahead of the final months of the season, possessing plenty of experience at the highest level, while also having the potential and the desire to improve even further," Southampton Vice Chairman Les Reed said in a statement.
Carrillo joins up again with manager Mauricio Pellegrino, who he played for at Estudiantes in Argentina.
“Lots of things attracted me. I know Southampton from watching the Premier League from when I was small, I’ve always regarded it as the most important league in the world," Carrillo said.
Carrillo spent 2-1/2 years at Monaco, helping them win the French title and reach the Champions League semi-finals last season.
(Reporting by Ed Osmond; editing by Ken Ferris)
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