LaBeouf's departure from the play due to "creative differences" was announced Wednesday. The actor later said via Twitter he left because of an unspecified "disagreeable situation" involving his co-star Alec Baldwin.
The production of Lyle Kessler's play is being directed by Daniel Sullivan.
Preview performances are to begin March 19. Opening night is set for April 7 at the Schoenfeld Theatre in New York.
"We are delighted that Ben will join Alec Baldwin and Tom Sturridge when rehearsals commence at 'Orphans' tomorrow morning. He is an extraordinarily gifted actor," producers Frederick Zollo and Robert Cole said in a joint statement Thursday.
Foster's film credits include "The Messenger," "Rampart," "Alpha Dog," "3:10 to Yuma" and "X-Men 3: The Last Stand." He also was a cast member of the iconic, but short-lived TV series "Freaks and Geeks."