His mother, Elizabeth, was sister of Colonel Solomon Richards of Polsboro, Wexford.
He was elected as a fellow on 11 June 1697 and was ordained in the church of Ireland in 1678.
On 14 February 1688–9 he was installed as chancellor of St. Patrick's Cathedral, Dublin, and was attainted by James II's parliament in the same year.
On 4 October 1694 he was enthroned bishop of Down and Connor in succession to Thomas Hacket, who had been deprived for gross neglect of duty.
[citation needed] Foley left some manuscripts on the controversy between Protestantism and Roman Catholicism to the library of Trinity College, Dublin.