Fogarty has extended his current deal, which expired at the conclusion of 2023, to remain at the club until at least the end of 2025.
The young gun finished sixth in the best and fairest and kicked a solid 33.14 in his 17 games for the season, averaging 9.8 disposals and 4.4 marks per game.
Since being drafted in 2017, the 23-year has cemented himself in the forward line and has kicked 83 goals from his 53 games.
Adelaide's General Manager of List Management and Strategy Justin Reid said Fogarty's recommitment to the club was exciting.
“Darcy has put in an enormous amount of work on and off the field and has been rewarded with consistent performances particularly in the back half of this season,” Reid said.
“He has always had a lot of potential and as we know in this industry, young key forwards take time to develop, and we are really pleased with the progress he is making.
“It's fantastic that he has recommitted to the Club as our exciting young forwards continue to emerge together.”
Fogarty said he was keen to continue his career with the Club which drafted him five years ago and he was optimistic about its future.
“I've loved my time here and I'm really happy to extend my contract for the next few years,” Fogarty said.
“It was good to play some consistent footy towards the back end of this year and also see the improvement in our team as we play more football together.
“The group we've got is heading in the right direction, we have an exciting young forward line playing under Tex and I'm just happy to be a part of that.”