The player, who will be 26 at the end of the month, has made 250 appearances for the Reds since making his debut on May 10th 2003, scoring eight goals.
Foster has played as a winger, midfielder, full back on either flank and centre-back for the Dons, and is an accomplished man-marker.
And the player was farmed out to Glasgow team Rangers last season in order to gain some Champions League experience in preparation for his return to Pittodrie.
Foster told RedWeb:"It's a tremendous honour and a privilege to have been asked and I will do everything I can to justify the faith the manager has shown in me.
"I played under Russell Anderson and Scott Severin here and learned a lot from both of them and I'm sure that will stand me in good stead.
"It's not just about the skipper though. You can be the best captain in the world but if the team doesn't gel, it won't happen.
"However, I've seen enough since I've come back to the club to see that this is a close knit group and one that gets on well together and we're all confident ahead of the new season."
Good luck Fozzy!