Byrne joined Newcastle United in the summer of 2023 from League of Ireland Premier Division side Bohemian FC.
The highly-rated teenage goalkeeper, who has represented Republic of Ireland at under-19 level, made his senior debut for Bohemians in October 2022 at the age of 17.
Byrne will face healthy competition from Scotland under-21 international Jude Smith for the number one spot in Newcastle's under-21 side this term.
Speaking on his move to the Magpies, the Irish shot-stopper told newcastleunited.com: "It's unreal to sign for Newcastle United and a real dream come true. I've always had a football in my hands growing up and it's always been a big part of my family.
"The heritage of the football club was a big factor in my reason to sign. There's a lot of history here, the fanbase is unbelievable and I think it looks like a great place to be at."