The 22-year-old England C international will go straight into the squad for tomorrow’s game against Maidenhead United.
Alabi joined Tranmere from fellow neighbours Chester FC last July and has made nine appearances this season.
During his eighteen months with Chester, Alabi scored 23 goals in fifth-three appearances.
He was club’s leading goalscorer with 17 league goals to his name last season.
Alabi came through the academy system at Stoke City and had loan spells at Scunthorpe United, Mansfield Town and Accrington Stanley while he was with the Premier League side.
After leaving Stoke, Alabi joined Ipswich Town at the beginning of the 2015/16 season after impressing during a trial, and scored on his debut for the Tractor Boys in a 4-1 victory at Doncaster Rovers in the Carling Cup.
Midway through that season, he left Portman Road to join Chester.
Picture: Richard Ault