Stokes has signed a three-year deal at Easter Road and will link up again with John Hughes having played under him during a successful loan spell with Falkirk in 2006.
The 21-year-old scored 14 goals in 16 SPL starts for Falkirk and Hughes has been keeping tabs on the Irishman ever since.
Stokes failed to make an impression at Sunderland after arriving from Arsenal in January 2007, spending most of last season out on loan at Sheffield United and Crystal Palace.
Hughes is delighted to be reunited with the Republic of Ireland international and is confident he will be a success in Edinburgh.
"Anthony has got bags of talent and I can't wait to start working with him again," Hughes told the club's official website.
"He has scored goals in the SPL before and I'm certain that he will score goals again. I see him as a great addition as we continue to develop the squad."
Stokes, who could make his debut against Falkirk this weekend, is also hoping to recapture his best form under the guidance of Hughes.
"I'm absolutely delighted to be joining Hibernian and particularly pleased to be working with John Hughes again," said Stokes. "I know how the manager works and I'm looking forward to producing my best for him and for the team."