Nolan, who signed his first professional contract with the Royals back in May 2018, has been capped by England at Under-17s level and has also been a regular for Reading’s Under-23s so far this season.
Speaking via the club's official website, Jack said; "I’m delighted to be here. I can’t wait to get going with the team and hopefully get some first team action. It’s my first time in the football league so I am really looking forward to it.
"Things have moved very quickly from when Darrell first made contact with Reading and this is a great opportunity for myself and hopefully I can bring a lot to Walsall Football Club whilst I’m here.
"Darrell said to me that it was great opportunity for me to come and hopefully get some games in the league. Obviously there is a lot of hard work ahead because I am still so young.
"The conversation I had with Darrell made my mind up that Walsall was the place for me to come to. The aim for me is to make my professional league debut but the biggest thing for me is adapting to league football.
"I have only been with the Under-23s at Reading so I am really looking forward to getting going. I’m a winger who predominantly likes to play on the right. I like to cut inside and try and score and create goals for the team.
"I’m going to try and be a real attacking threat against the opposition when I’m playing."