Hibben was born in Wyoming in 1935. Unable to afford a Bowie knife at age 15, Hibben decided to make his own out of scrap metal and files. He did not make another knife until his discharge from the US Navy in 1956 when he took a job in Seattle, Washington as a machinist for Boeing Aircraft and started making knives in his spare time after he sold another handmade Bowie knife to a friend for $45.
In 1964, Hibben relocated to Sandy, Utah to become a full-time knifemaker. His blades were primarily 440C stainless steel and Hibben was the first knife maker to use that steel in his knives. While in Sandy, Hibben partnered with another knifemaker named Stuart Benedict and these knives were sold under the name "Ben-Hibben". The knives from this time period were fixed-blade Bowie knives, hunting knives, fishing knives and some early fighting knives.
In 1965, Hibben left Sandy for Manti, Utah to open a larger facility where he operated as "Hibben Knives". One of his knives was written about and featured on the cover of Guns & Ammo in an article titled The Versatile Gil Hibben, expanding his reputation beyond that of a local knifemaker. This recognition lead him to the attention of Browning Arms Company, who had Hibben design the company's first line of knives in 1968 consisting of 3 fixed blade knives and a folding hunting knife. That same year, Hibben sang Tenor for the Mormon Tabernacle Choir.
A lifelong martial artist with black belt rankings in Aikido, Judo, and American Kenpo, Hibben designed and built a knife called the Kenpo Knife as his Black Belt Thesis under Ed Parker in 1968; his thesis and knife design led to Long Form VIII ("Double Dagger Form") which uses two knives in mock combat.
In 1970, Hibben moved his shop again. After a brief period in Springdale, Arkansas, he relocated to Alaska for five years working as a knifemaker and a hunting and fishing guide. In 1975 he moved his shop again to Silver Dollar City, Missouri and four years later to Louisville, Kentucky.