Foster was born on April 15, 1969, in Lismore, New South Wales and grew up along with his siblings. Foster completed his education from Kadina High School where he used to play in the school team. In 1988, Foster began playing professional soccer with Sydney Croatia.
After playing a single season with Sydney Croatia, Foster made a move to a Victorian club Sunshine George Cross. He also played football for Emest Borel in Hong Kong before returning to Adelaide City and Marconi Stallions in the National Soccer League.
Furthermore, Foster played football for Northern Spirit in Australia until his retirement in 2003. During his career, Craig won 29 caps with the Australian national football team where he successfully scored 9 goals. He also represented the under-16 Australian team during FIFA U-17 World Championship which was held in China.
During his professional career, Foster won FIFA Confederation Cup, OFC Nations Cup, Hong Kong First Division League: Team of the Season, OFC Nations Cup: Top scorer, Australia National Association Football team captain, and much more.
With Australia's national team, he has won 29 caps and scored 9 goals. He has also represented under-16 Australian team at the 1985 FIFA U-16 World Championship.
Foster retired from professional football in 2003. After being retired from the professional football, Craig Foster become the chief soccer analyst for the SBS Show, The World Game. Foster is remembered for his commentary in the World Cup Qualifier game between Australia and Uruguay in November 2005.
The retired professional football player was called up in 2007 by the Australian representative to judge the Ballon d'Or, the highest award received by any individual footballer. During 2007, the Brazilian footballer Kaka, who retired at the age of 35, won the Ballon d'Or, while Cristiano Ronaldo, Lionel Messi, and Didier Drogba were among the top four.
Craig Foster is a married man. He is married to his girlfriend, Lara Foster. The couple is parents to a single child, daughter Charlie Foster.
Foster, after retirement, worked as a coach and commentator too, through which he earned a good amount of salary as well. It is estimated that his current net worth is around $6 million by which he finances his living.
The athlete owns an Audi RS 5 car worth around $186K and Audi Q5 which costs more than $40K in the Australian Market.