The right-back, who can also operate in the centre of defence, triggered a clause in his contract based on appearances in the 2021/22 season.
McGinn suffered through some injury troubles this past season, especially after the new year, but still racked up 34 appearances for the Hibees in all competitions and made his Scotland debut in the 1-0 victory over Austria back in September.
Since signing in the 2020 January transfer window, McGinn has played 91 times and helped Hibs reach the final of both the League Cup and Scottish Cup.
Meanwhile Hibs will begin their 2022/23 season with a home match against Clyde after the Premier Sports Cup fixture schedule was released by the SPFL.
Lee Johnson’s side will face off against the Bully Wee on Saturday, July 9 with a 3pm kick-off as they look to get off to an ideal start in Group D.
Two Hibs matches from the group stage will be screened live by sponsors and tournament broadcasters Premier Sports. They’ll show the Tuesday, July 12 trip away to Falkirk before also covering the visit to Bonnyrigg Rose on Sunday, July 17.
Hibs will complete their group-stage fixtures with a home match against Greenock Morton on Wednesday, July 20.
None of the other teams from Edinburgh or the Lothians competing in the first round of the tournament will have their games broadcast live.
Newcomers Bonnyrigg start with a midweek trip to Clyde before hosting Hibs and Falkirk at New Dundas Park. They finish by going to Morton on Saturday, July 23.
Edinburgh City, like Bonnyrigg, will sit out the opening weekend then go to Airdrieonians before welcoming Arbroath and Cowdenbeath to the capital and concluding with a visit to Premiership side St Mirren.
Livingston, top seeds in Group G, start at Albion Rovers on July 9. They then face Inverness CT (home), Cove Rangers (away) and Kelty Hearts (home).
All weekend matches, whether Saturday or Sunday, have a 3pm kick-off. All midweek games are scheduled for a 7.45pm start.