The Middle Eastern side had already had two approaches for the 28-year-old knocked back but returned with a third, improved offer on Thursday, reported to be in the region of £3 million.
Boyle was left out of Shaun Maloney’s squad for the 1-0 Scottish Cup fourth-round victory over Cove Rangers with the distinct feeling that he had played his last game at Easter Road.
The Australian internationalist was watching on from the stand as Kevin Nisbet’s goal secured an extra-time win against Paul Hartley’s side, and left the country on Friday morning.
He is expected to feature for Australia in their World Cup qualifier against Vietnam on Thursday January 27 in Melbourne.
Al-Faisaly’s next match is today against league-leaders Al-Ittihad, with their next game not scheduled until Saturday February 5.
Boyle leaves the Capital having helped Hibs to Scottish Cup glory in 2016 and promotion back to the Scottish Premiership the following year.
The former Dundee and Montrose attacker initially joined Hibs on loan in January 2015 from Dundee before making the move permanent in the summer.
Named the club’s Player of the Year and Players’ Player of the Year for the 2020/21 campaign, he made 265 appearances in total, scoring 65 goals.
Hibs chief executive Ben Kensell said: “We’d like to begin by thanking Martin Boyle for everything he’s done for Hibs over the last seven-years. He created some really special memories with us and gave everything for the supporters.
“Letting Martin go was a difficult decision to make as he’s an important player for us, but equally when a player is presented with a life-changing option in-front of him and makes it clear that it’s an option he’d like to take, then we have to listen.
“Discussion have been on-going for a long period with Martin, and he understood our stance. We took a firm, but fair approach and he conducted himself incredibly well during what’s been a difficult period for him, and we thank him for that.
“We wish him all the best for the future, and he will always be welcome back at Hibs.”