The 27-year-old spent last season at Easter Road on loan from FC Ashdod in his homeland, helping Neil Lennon’s side win the Championship title and a return to the Premiership.
Marciano and his professional model wife Shelly, who recently disclosed the couple are expecting their first child, had expressed their desire to remain in Edinburgh and negotiations have taken place throughout the summer before concluding in today’s deal.
Marciano is Hibs’ fourth summer signing following the arrivals of Danny Swanson, Simon Murray and Efe Ambrose.
The goalkeeper said: “I am delighted to be back at Hibernian.
“Last year was an amazing experience playing in front of the fans at Easter Road – it is a privilege to play in front of them every week and we will be working hard to make them happy again this season.”