The 32-year-old, who has also played for Aberdeen and Preston, was a free agent after leaving Easter Road before the end of the January transfer window.
St Johnstone were able to bring Hart in after loaning striker Carl Finnigan to Dundee until the end of the season.
Saints boss Steve Lomas told the club's official website: "Michael is a good, experienced pro and I'm pleased to get him on board.
"We are heading into the time of the season where injuries and suspensions can have an impact and he gives us a bit of insurance in that respect.
"It's an arrangement which suits both the club and the player."
Finnigan has made only four starts since moving to McDiarmid Park from Falkirk last summer.
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