The 22-year-old also returned to the lineup for the first time this season for Saturday's tilt with the Buffalo Sabres.
New Jersey drafted Hischier first overall in 2017. He joins Nashville Predators rearguard Roman Josi as the third Swiss-born captain in league history.
Hischier tallied 14 goals and 36 points over 58 games last season and has 51 tallies and 135 points through 209 career outings.
The Devils have been without a captain since the end of the 2018-19 season.