Cleveland received cash considerations in the trade.
The Yankees officially announced the deal hours after Clint Frazier became the team's latest outfielder to be placed on the injured list.
Maybin was in uniform and made his way into the Yankees' clubhouse just before first pitch for Thursday night's game against the Angels, but he did not play in the 11-5 loss.
"He has the ability to play all outfield positions and obviously right now we're a little left-handed out there,'' manager Aaron Boone said. "We have two lefties coming up in (a series at) San Francisco. He's a good athlete with versatility to so he provides us with good flexibility.''
Maybin signed a minor league deal with the Indians last month after being released by the San Francisco Giants. He was arrested during spring training and charged with two DUI offenses -- driving while impaired and driving with a blood alcohol content of .08 or more.