The club said on their official website that 18-year-old David Paul passed away in the early hours of Sunday, with no suspicious circumstances.
Chairman Rod Petrie said of the promising midfielder: "Everyone at the club is deeply affected by this. David was a talented and promising young footballer, and a fine young man.
"Our thoughts - and the thoughts of the entire Hibernian community - are with his family at this dreadful and difficult time for them.
"Whilst we understand that people will wish to offer their support, we hope that the wishes of the family for privacy will be respected."