Adaramola spent last season on loan at Stockport County and Bradford City.
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Orient manager Richie Wellens said: "Tayo has had a few loans away from Palace now, and he comes here with real pedigree. In his first loan at Coventry, he showed the potential of what he's capable of.
"We played against him last year whilst he was at Stockport, and in the second half of the season, he had a superb loan at Bradford.
"He dealt with the pressure of Bradford's run in excellently, and for me, he was one of their best performers. He's a proper athlete, gives us a huge amount of pace, and we think we can develop him. He's a different profile of full-back to what we already have, and I think he can add a lot to our squad."