From Free Pascal wiki
The package is available since Lazarus 1.5.
- Go to Package > Install/Uninstall Packages.
- Search in Available for installation for favorites.
- Select it.
- Click on Install selection.
- Save and rebuild IDE. The IDE will ask for confirmation, then it build the package, links it in and restarts itself.
When installed, this package creates a third section (on the top) in the Open tool button drop-down menu where you can register your favorite projects.