The 28-year-old only signed an initial extension in August last year to keep him at the club until 2023 but the winger has put pen to paper on a new improved deal, prolonging his stay in the Capital.
Boyle’s new contract comes in the wake of Aberdeen having an audacious £500,000 bid for the Australian internationalist immediately knocked back by Hibs.
The forward enjoyed his best season in green and white last term, scoring 15 goals in all competitions as he helped the team to its first third-place finish in 16 years.
Boyle’s wife Rachael currently plays for Hibernian Women and extended her own deal last year.
Speaking to the Hibs website after signing his new deal Boyle said: “It’s a great feeling to agree a new deal at a football club that means a lot to me and my family.
"I think everyone can see how much I’m enjoying it here and how my own game is benefiting from that.
“As a team we’re always looking to improve and that’s key for me. Everyone can see the desire from the club, the players, and the management staff to progress and challenge for trophies and European football; that excites me and that’s where I want to be.
“If we keep working hard, then hopefully we will be able to create more highs.”
Boyle has started the new campaign in fine form with five goals in seven appearances and will hope to maintain his performance levels when Hibs travel to his former team Dundee on Sunday.
His manager Jack Ross believes Boyle is “as good as anyone in Scotland” in his position.
The head coach said: “Last season, his numbers for goals and assists were outstanding, and he’s started exactly the same this season as well. You can tell he’s feeling good and he’s right at it and long may it continue because he’s a major asset for us.
“He’s also a really good character, brings energy to the club every day, and works really hard for the team. He’s a player of real quality and a really good person for us to have at this football club.
“I’ve had long conversations with our new CEO Ben Kensell about building something here and he has been hugely supportive in aiming to keep our best players at the club.”
Sporting director Graeme Mathie added: “It’s really important for us to have sustained success and to build on last season and to do that we have to keep our best players at the club; that’s why we’re delighted to keep Martin with us.
“Martin has been terrific for us over the last 18 months, and you can see how much he flourishes in this system.
“I’m looking forward to many special performances from him, and the team, in the future.”
To date Boyle has played 244 matches for Hibs in all competitions, scoring 54 and registering 48 assists.