The 33-year-old full-back - who joined Everton's youth setup in 1991 - has penned a new two-year deal.
Hibbert has made over 300 appearances for the club but made just four in all competitions last term.
He was the second player to commit his future to Everton on Tuesday after 21-year-old Conor McAleny signed a three-year deal.
McAleny joined Everton's academy at the age of 11, but has made just two first-team appearances.
He has spent time on loan at Scunthorpe United and Brentford but missed a chunk of last season with a broken leg.
"I want to get as close as I can to the first team, make some appearances and hopefully chip in with a few goals if possible," he told the club's official website.
"He [manager Roberto Martinez] called me up a few weeks ago and we had a good chat.
"That was massive for me. He told me I was going to be in his plans and that was a big part of why I have signed."
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