Hurst joined Mansfield in June after being released by Southend, and has made 16 appearances for the League Two side this season.
The 31-year-old former Sheffield United trainee had not started in a league game since 17 December.
He could make his debut for Guiseley when they travel to Wrexham in the National League on Saturday.
National League side Guiseley have signed Mansfield midfielder Kevan Hurst on loan until the end of the season.