Reid made the announcement on Monday after Foles had his best performance in a 38-33 loss at Dallas on Sunday night. Foles, a third-round pick, has started the last three games since Vick was injured on Nov. 11.
The Eagles (3-9) have lost eight straight games. Reid cited the team's record and Vick's health as the reasons for his decision.
Foles was 22 of 34 for 251 yards and one touchdown against the Cowboys. He has thrown for 793 yards, two touchdowns and three interceptions and has a passer rating of 73.3. Vick struggled this season, committing 14 turnovers in nine games.