The 26-year-old came through the Middlesbrough Academy and featured for Boro's Under-21 and Under-23 sides.
Joining Spennymoor last summer from National League North neighbours Darlington, Wheatley spent time on loan with Whitby's coastal rivals Marske United, helping them to promotion in the 2021/22 campaign.
Manager Nathan Haslam said: "He's a good player first and foremost. He's experienced at a higher level, he knows the boys, he knows me, and he certainly strengthens the squad moving forwards.
"We've got a busy February and bringing Joe in is a massive plus for us. He brings us a wealth of experience and quality."
Wheatley could feature in this afternoon’s match at Gainsborough Trinity.