The young striker has been at the club since he was 14 and the contract will come into effect on his 17th birthday.
The Eagles' Academy manager Gary Issott told the club's official website: "The hard work starts now for Kyle. His form's been very good this year playing just off the striker.
"He's scored a lot of goals for us and his work ethic has improved hugely this season.
"He's a left-footed player and he's very quick. It's that electric pace which makes him a bit different from the players who usually play in that position. Not many players have that ability."
Source: PA
Source: PA