The 20 year old had been on loan with the Robins since October and a run of nine clean sheets in fifteen appearances has prompted manager Paolo Di Canio to hand the goalkeeper a two and a half year deal.
"I am really pleased to have the deal all sorted and I am looking forward to trying to help the team win promotion this season," the goalkeeper said after inking the deal.
Foderingham signed for Crystal Palace in 2010 from Blue Square South side Bromley. He has also spent time on loan with Blue Square North's Histon.
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