Paterson, who has found first-team opportunities limited at the City Ground in the past 12 months, had also been linked with Burnley and Leeds United.
The 23-year-old joined Forest from Walsall in 2013 and has scored 15 goals in 66 appearances for the East Midlands outfit.
Paterson has become Huddersfield's eighth signing of the summer.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Birmingham CityBirmingham | 7 | 6 | 1 | 0 | 16 | 8 | 8 | 19 |
| 2 | Wrexham | 8 | 5 | 2 | 1 | 14 | 6 | 8 | 17 |
| 3 | Lincoln CityLincoln | 7 | 4 | 2 | 1 | 12 | 6 | 6 | 14 |
| 4 | Blackpool | 8 | 4 | 2 | 2 | 16 | 13 | 3 | 14 |
| 5 | Mansfield TownMansfield | 7 | 4 | 2 | 1 | 13 | 11 | 2 | 14 |
| 6 | Barnsley | 8 | 4 | 2 | 2 | 13 | 11 | 2 | 14 |
| 7 | Wycombe WanderersWycombe | 7 | 4 | 1 | 2 | 14 | 11 | 3 | 13 |
| 8 | Charlton AthleticCharlton | 8 | 4 | 1 | 3 | 7 | 6 | 1 | 13 |
| 9 | Stockport CountyStockport | 7 | 3 | 3 | 1 | 11 | 7 | 4 | 12 |
| 10 | Huddersfield TownHuddersfield | 8 | 4 | 0 | 4 | 12 | 10 | 2 | 12 |
| 11 | Stevenage | 8 | 3 | 2 | 3 | 6 | 5 | 1 | 11 |
| 12 | Peterborough UnitedPeterborough | 8 | 3 | 2 | 3 | 14 | 14 | 0 | 11 |
| 13 | Exeter CityExeter | 7 | 3 | 1 | 3 | 8 | 6 | 2 | 10 |
| 14 | Bolton WanderersBolton | 7 | 3 | 1 | 3 | 9 | 11 | -2 | 10 |
| 15 | Reading | 7 | 3 | 1 | 3 | 9 | 11 | -2 | 10 |
| 16 | Wigan AthleticWigan | 8 | 2 | 3 | 3 | 6 | 5 | 1 | 9 |
| 17 | Northampton TownNorthampton | 7 | 2 | 2 | 3 | 8 | 9 | -1 | 8 |
| 18 | Leyton Orient | 8 | 2 | 2 | 4 | 9 | 11 | -2 | 8 |
| 19 | Rotherham UnitedRotherham | 8 | 1 | 4 | 3 | 6 | 10 | -4 | 7 |
| 20 | Crawley TownCrawley | 7 | 2 | 1 | 4 | 5 | 10 | -5 | 7 |
| 21 | Bristol Rovers | 8 | 2 | 1 | 5 | 7 | 13 | -6 | 7 |
| 22 | Burton Albion | 7 | 0 | 4 | 3 | 8 | 13 | -5 | 4 |
| 23 | Shrewsbury TownShrewsbury | 8 | 1 | 1 | 6 | 6 | 13 | -7 | 4 |
| 24 | Cambridge UnitedCambridge | 7 | 0 | 1 | 6 | 6 | 15 | -9 | 1 |
| > League One Full Table | |||||||||
