Hibbard scooped his first Players' Player award, based on votes cast after every game this season by the match day squad. He beat competition from Duncan Jones and Ashley Beck.
Wales hopeful Ashley Beck was also honoured. The centre, who was knocking on the door of the Welsh team through the Six Nations, won the fans award beating current internationals Dan Biggar and Justin Tipuric.
Biggar did get honoured for his tremendous feat of reaching 100 appearances. The 22-year-old becomes the Ospreys youngest centurion and highest points scorer this season, overtaking Gavin Henson and James Hook. He sits just 27-points short of the 1000 milestone.
Meanwhile Tom Smith won the Coaches' Player award, with Biggar and Beck going close.
There were also acknowledgments for Welsh internationals Rhys Webb and Ryan Bevington, both players winning caps for reaching 50 player appearances. Beck and Richard Fussell also reached milestone.
The final award of the night was the Osprey of the year award, an gong everybody at the region, on or off the pitch, is eligible for.
It is designed to reward the person who has contributed the most throughout the year. Regional development manager and acting head coach of Bridgend Ravens, Ben Rose, scooped the prize to finish off the night.
"Coming just a matter of days after an impressive win over Newport Gwent Dragons in front of the season's highest crowd to book our place in the end of season play-offs for a third consecutive year it seems a highly appropriate time to reflect on what we've done over the last nine months and where we stand right now," said Managing Director, Roger Blyth.
"It's been a difficult year for many reasons, but we've not shied away from the many challenges that we've faced along the way, showing the kind of spirit and determination to succeed that is expected of an Osprey.
"We've continued to work hard towards our ultimate aim of delivering long-term, sustainable success and every one of the individuals honoured tonight can take great pride in their award, and also, the knowledge that they have played a part in what we hope will ultimately prove to be another successful season for the region, with a fourth Celtic League crown to round it off."