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Wanderers boss Sam Allardyce has been keen to add to his attacking options having witnessed two league defeats out of two in the current campaign and he believes Armstrong fits the bill.
"With the transfer deadline coming at the weekend it was vitally important to bolster our squad," he told the club's official website.
"I am absolutely delighted to be bringing Chris here. He is a highly experienced player with a marvellous track record of scoring goals in the top flight.
"At the moment he is about six to eight weeks behind the rest of the squad in terms of fitness but he will become an integral part of the team."
Newcastle-born Armstrong joined Spurs in 1995 for £4.5million and appeared in 141 league games, scoring 48 goals.