The 21-year old Wolves striker spent last season on loan at Easter Road and will also spend next term in Edinburgh after being told by new Molineux boss Stale Solbakken that he was not required.
Griffiths, who found himself in trouble on a few occasions last term for on-field misdemeanours, is looking to produce his best for Hibs now that he has returned to his boyhood club.
"He (Solbakken) told me from day one I was not in his plans and he made it clear I had no future at Molineux, " he told the Daily Record.
"The club had seven strikers on their books and he told me if the right offer came in for me I could go. As soon as I knew Hibs were interested that was that. There was nowhere else I wanted to be.
"It is important for a player to be where he is loved and I feel loved at this club."