The move is retroactive to Thursday. Chatwood was scratched from his scheduled start Friday due to back tightness.
In a corresponding move, Chicago purchased the contract of right-hander Jason Adam from the team's alternate camp site in South Bend. Right-hander Jharel Cotton was designated for assignment to make room for Adam on the roster.
Chatwood had produced two excellent starts and then a terrible one in his first three outings. He has a 5.40 ERA and 1.40 WHIP in 15 innings this season.
Adam, 29, had a 4.83 ERA in 54 appearances across the past two MLB seasons. He signed a minor league contract with the Cubs last offseason.