The Denmark international, who signed for the German champions in 2012, will remain at the rival Bundesliga outfit until the end of the season.
"This is a solution which is good for all three sides," said Bayern sports director Matthias Sammer in a statement.
Hojbjerg spent the second half of last term on loan at Augsburg.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| C | Bayer LeverkusenB. Leverkusen | 33 | 27 | 6 | 0 | 87 | 23 | 64 | 87 |
| 2 | Bayern MunichBayern | 33 | 23 | 3 | 7 | 92 | 41 | 51 | 72 |
| 3 | Stuttgart | 33 | 22 | 4 | 7 | 74 | 39 | 35 | 70 |
| 4 | RB Leipzig | 33 | 19 | 7 | 7 | 75 | 37 | 38 | 64 |
| 5 | Borussia DortmundDortmund | 33 | 17 | 9 | 7 | 64 | 43 | 21 | 60 |
| 6 | Eintracht FrankfurtFrankfurt | 33 | 11 | 13 | 9 | 49 | 48 | 1 | 46 |
| 7 | Hoffenheim | 33 | 12 | 7 | 14 | 62 | 64 | -2 | 43 |
| 8 | Freiburg | 33 | 11 | 9 | 13 | 44 | 56 | -12 | 42 |
| 9 | Heidenheim | 33 | 9 | 12 | 12 | 46 | 54 | -8 | 39 |
| 10 | Augsburg | 33 | 10 | 9 | 14 | 49 | 58 | -9 | 39 |
| 11 | Werder Bremen | 33 | 10 | 9 | 14 | 44 | 53 | -9 | 39 |
| 12 | Wolfsburg | 33 | 10 | 7 | 16 | 40 | 53 | -13 | 37 |
| 13 | Borussia MonchengladbachBorussia M'bach | 33 | 7 | 13 | 13 | 56 | 63 | -7 | 34 |
| 14 | VfL BochumVfL Bochum | 33 | 7 | 12 | 14 | 41 | 70 | -29 | 33 |
| 15 | Mainz 05Mainz | 33 | 6 | 14 | 13 | 36 | 50 | -14 | 32 |
| 16 | Union BerlinUnion Berlin | 33 | 8 | 6 | 19 | 31 | 57 | -26 | 30 |
| 17 | FC Koln | 33 | 5 | 12 | 16 | 27 | 56 | -29 | 27 |
| R | SV Darmstadt 98Darmstadt | 33 | 3 | 8 | 22 | 30 | 82 | -52 | 17 |
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