The 38-year-old has signed a three-and-a-half year deal with the Easter Road club and moves from the Belgian FA, where he was assistant coach to Roberto Martinez of the Belgium national team.
Maloney replaces Jack Ross, who was sacked just under two weeks following a poor run of form in the cinch Premiership.
The former Celtic forward and Scotland internationalist has chosen ex-Hibs defender Gary Caldwell to be his assistant manager, while Italian Valerio Zuddas will be a first-team coach and conditioning expert and Brian Doogan will be head of technical support. David Gray, who has been caretaker manager since Ross’ departure, will remain in the coaching team, while Craig Samson keeps his role as goalkeeping specialist.
Hibs chief executive Ben Kensell said of the appointment: “We are very happy to welcome Shaun as our new manager, in what is undoubtedly a very important appointment for Hibernian FC.
“Our recruitment for a new manager has been thorough, strategic, and centered around the clear vision we have for this football club.
“We wanted to acquire a manager who has an attacking mentality, who’s progressive, and someone who is hungry for the opportunity to build something here at this big club.
“Shaun has been the standout candidate throughout this process as his idea of football is completely aligned with ours and the history of this football club. He believes in attacking, possession-based football, and has implemented it at the highest level with Roberto Martínez at Belgium.
“He is also a coach that wants to develop the players we have at this football club, as we have assembled a good squad. He’s aligned with our focus on bringing through young talent through our development team and wants to work with young players.
“Shaun’s a young coach and this is a big opportunity for him to show what we can do. We will support him in the upcoming transfer windows to help him achieve our ambitions here.
“We have real belief in Shaun, and he has huge belief in himself. He is determined to bring success here at Hibernian FC.”
Maloney’s first match will be on Wednesday evening when Hibs face Aberdeen at home in the cinch Premiership.