The 18-year-old earned his senior debut last season in the FA Cup against Hartlepool United, and his first competitive start the following round against Stoke City.
He represented the Republic of Ireland Under-21s in summer and joined the first-team on tour in Singapore and Australia the following month.
He moves to Coventry as the Sky Blues seek to push beyond their top-half Championship finish in 21/22, becoming the second Academy prospect to secure a loan after Reece Hannam's deal with Bromley.
Adaramola said: "My first taste of senior football last season drove me on to work for more. Playing and training with pros is what every young footballer aims to do, so I'm determined to make the most of this opportunity with Coventry and want to thank the people who helped to secure it."