Araujo, 20, moves to Colchester on a season-long loan.
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The defender spent last season on-loan with Chesterfield in League Two.
"Technically, he's a really good player and will give us that left-foot balance which is something we always like," boss Danny Cowley told BBC Essex Sport.
"He's a really good reader of the game, an intelligent defender, and gives us the competition for places that we want in that position."
Araujo said, "I see myself as a leader on and off the ball, dictating the style of play, showing my physicality, and being aggressive when needed.
"Danny and Nicky set out a clear plan for me, to go out there, express myself, and be the best player I can be.
The U's are away at Barnet on Saturday.