Town have not been in the top flight since relegation from the old First Division in 1970, but lifelong fan Hoyle, who made his fortune from the card retail industry, has made no secret of his plans since taking over as chairman and majority shareholder in June 2009.
"The Sky Bet Championship has once again been a great division to compete in," said Hoyle, who sold the Card Factory in 2010 for a sum reported to be in excess of £350million.
"Our performances have improved, our style of play has been great to watch at times and the team is developing nicely.
"The ultimate aim is to reach the Premier League by improving year-on-year in a stable and sustainable way.
"I believe that the players we have added this season have improved our squad.
"We have a number of exciting prospects for the future and the excellent progress of the development squad and academy is also very encouraging."
Manager Mark Robins replaced the sacked Simon Grayson in February 2013 and has guided the club to 14th place in the Sky Bet Championship.
It is the club's second season in the second tier since winning a penalty shootout against Sheffield United in the League One play-off final in 2012.