Ferenczi signs from Hungarian side Zalaegerszeg for a fee believed to be in the region of £250,000. He has vast experience having played for many Hungarian sides and also teams from Germany, Bulgaria and Turkey.
He joins fellow Hungarian striker Peter Rajczi at Oakwell. Ferenczi has played eight games for the Hungary national team, scoring two goals.
Meanwhile there has been movement out of Oakwell tonight with Colin Healy leaving the club after his contract was terminated by mutual consent. Healy made 10 appearances for the club in his five month stay at Oakwell including two Carling Cup starts. He spent time on loan at Bradford also.
Also on their way out for a loan deal is Nathan Joynes. The 19-year-old was mysteriously recalled from Halifax before the Luton game and now has signed on loan for Boston United until the end of the season.
Finally Paul Hayes came very close to joining League One Leyton Orient last night.
Barnsley accepted a six figure sum from relegation threatened Orient but Hayes failed to agree terms.
Hayes had been strongly linked with a move to Southend after The Shrimpers bid twice for him during January and he has been left out of the last two squads.
New Hungarian signing: Istvan Ferenczi