He has succeeded former Sunrisers captain Kane Williamson. Markram, who was recently recalled to the Proteas Test squad, captained the Sunrisers Eastern Cape to the inaugural SA20 title earlier this month.
Markram is also among the candidates to become South Africa's T20I captaincy. Batsman Temba Bavuma relinquished the T20I captaincy recently.
Hyderabad won the IPL in 2016. Their squad for the 2023 tournament features Indian batsman Rahul Tripathi, seamer Bhuvneshwar Kumar and spinner Washington Sundar.
Proteas all-rounder Marco Jansen, New Zealand batsman Glenn Phillips and England spinner Adil Rashid are among their recruits from overseas.
The Mumbai Indians are the most successful franchise in the history of the IPL. They have won five titles. The Chennai Super Kings have won the IPL three times.
The Gujarat Titans are the reigning IPL champions. They beat the Rajasthan Royals in the 2022 final.
The Royal Challengers Bangalore, Punjab Kings and Delhi Capitals have never won the IPL.
Australian batsman David Warner, meanwhile, has been appointed captain of the Delhi Capitals. Indian all-rounder Axar Patel will be the Capitals' vice-captain. Wicketkeeper-batsman Rishabh Pant was the Capitals' captain in 2022, but has since been sidelined by multiple injuries sustained during a motor vehicle accident.
The 2023 IPL is scheduled to start on 31 March. This will be the 16th edition. The Gujarat Titans and Chennai Super Kings will contest 2023's opening fixture at the Narendra Modi Stadium in Ahmedabad. The Rajasthan Royals won the inaugural tournament in 2008. They were captained by the late Shane Warne at the time.