Greene has been one of the AFL's most dynamic and brilliant players since making his debut in the Giants' competition bow more than a decade ago.
But the 29-year-old has also had more than his fair share of run-ins with the tribunal, earning a reputation as a serial offender.
It hasn't deterred the Giants, who have stood by their man and elevated Greene and Josh Kelly to co-captains alongside Stephen Coniglio last season.
Greene will take top responsibility in 2023, with Kelly and Coniglio on Wednesday named as his vice-captains.
"I've come a long way and it took a long time, but I've done a lot of work on my leadership skills," Greene said.
"As a young kid I was probably nowhere near it and was trying to find my way in AFL footy but I'm in my twelfth season now and I've been here since the start.
"It's a massive honour and I'll be certainly putting all my time and effort into doing the best job I can."
A new-look GWS leadership group will feature Tom Green, Harry Perryman, Sam Taylor and Connor Idun for the first time.
Greene will continue to work closely with Kelly and Coniglio, who was the Giants' sole captain for two seasons in 2020-21.
"We have a really strong bond and I'll be relying heavily on those two throughout the year," Greene said.
"I'm looking forward to getting to work with them, alongside the four new players who have been named in the leadership group as well.
"It's an exciting mix with the four new guys and the three of us who have been here for a while."
GWS football boss Jason McCartney said a thorough player leadership review and selection process had led to the club's decision to appoint a single captain this season.
"Toby is not only one of the most dynamic players in the AFL competition, he's also an outstanding leader who gets the most out of his teammates and is intent on driving the Giants forward to greater heights," McCartney said.
"Since arriving at our club as an 18-year-old draftee, Toby has not only contributed to building the Giants, he has also continued to grow and develop as a player and a leader."
Greene is a two-time All-Australian and won the Giants' best-and-fairest award in 2016.
He has played 191 games for the club - second only to all-time leader Callan Ward (210) - and has kicked 265 goals.
GWS have also named Brent Daniels, Harry Himmelberg, Lachie Ash and Isaac Cumming in an emerging leaders group, which will work closely with former co-captains Phil Davis and Ward.
