The 27-year-old second rower takes the armband from halfback Ben Hornby, who announced his retirement at the end of last season.
Creagh has plenty of experience under his belt and was a part of the Dragons team to land the NRL premiership in 2010.
He will be responsible for inspiring the Dragons to re-create the form they showed under former coach Wayne Bennett.
“It is an honour and a privilege to be handed the responsibility of leading the Dragons next season,” said Creagh.
“This club has a proud history with traditions that I am very respectful of and will continue to follow.
“I am thankful to Steve Price for this opportunity and to be here today with my senior team mates and former club captains is very special and I am very thankful to them for coming here in support of me today.
“It is humbling to know that my childhood dream of leading the Club has come true being a local junior from the Illawarra and it is something I will cherish forever.
Dragons coach Steve Price said Creagh was the natural choice to lead the club.
“It is important that the new Club captain leads by example not only on the football field but off it as well and Ben definitely fits this criteria,” said Price.
“I have known him for several years and he is a person who goes above and beyond what is required of him and is an inspiration for other players.”