The Australian internationalist scored a double in the 3-0 win over Aberdeen at Easter Road early last month and netted both goals when Hibs beat Hearts 2-0 in the Edinburgh derby at Tynecastle on Boxing Day.
Boyle was out of action for several months before returning to the team at the end of October and is likely to play a key role for Jack Ross’s side in the second half of the season.
Ross told the club website: "We’re delighted that Martin’s performances have been rewarded with the Player of the Month award. He’d be the first to say that he owes his team-mates and Training Centre staff a debt of thanks, but ultimately it’s Martin who had to put in the hard work every day when he was out injured for so long. It’s great to see the pay-off for that now."