The 22-year-old was part of the Ireland U20s Grand Slam-winning squad in 2007 and has also worn the green shirt for IrelandÃ¢â‚¬â„¢s sevens side.
Chiefs head coach Rob Baxter said: Ã¢â‚¬Å“Eoghan is a player who I have been following now for quite some time.
“He has played some big games for Shannon and probably feels unlucky not to have progressed further in the Munster set-up.
Ã¢â‚¬Å“Eoghan came over to join in with some of our pre season testing and showed up well; not many forwards beat Tom Johnson over 40 metres and 100 metres.
He added: “He showed up well in the conditioned games we played and although he is not a household name, I think he may be a name for the future.
Ã¢â‚¬Å“We have real strength in the back-row where I am going to challenge our players to go out and attack games in the Premiership and Eoghan only adds to that strength.Ã¢â‚¬Â
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