The Edinburgh outfit have saluted their 33-year-old vice-captain Boyle, who first joined the club back in January 2015, as they announced a series of events would be held to mark his time at the club before his contract expires at the end of the season.
"His contribution in Green and White has been significant and will be rewarded with a series of events in the months ahead, allowing supporters to pay tribute to a modern-day cult hero," the club said.
Boyle helped Hibs win the Scottish Cup in 2016 and has gone on to score 114 goals in 420 games - 63 of them as captain - either side of a brief stint in Saudi Arabia.
His wife Rachael, who he married in 2019, is also a star at the club, having become a Scottish international midfielder.
Graeme Cadger, chair of the testimonial committee, said: "As a Hibee, he became an Australian international. He became a dad, and he married Rachael, who is obviously a Hibs legend in her own right.
Proceeds from his testimonial fund will go to Boyle's chosen youth-focused charity, the Hanlon Stevenson Foundation, which helps less privileged children.
A hugely popular figure, the Scottish-born forward, who's played 41 times for Australia, could be in line to scoop a six-figure benefit from the testimonial.
Cadger added: "He's tenth on the all-time goalscorers' list and was obviously part of a group who provided many of us with one of the best days of our lives at Hampden Park in 2016 (when Hibs won the Cup final against Rangers).
"But that only tells half of the story, and Martin grew up at the club. He's endured highs and lows, not least through some serious injuries. His resilience to bounce back from those has never been in doubt, and it says a lot about his character.
"It's been a pleasure to watch him develop in front of our eyes as a supporter."
