There had been some debate about Trescothick's future as skipper following an unusually disappointing 2013 campaign in which the former England opener failed to score a single century and Somerset only just avoided relegation from LV= County Championship Division One.
However, Somerset have announced that the 37-year-old will continue to lead the side in 2014.
Trescothick said: "I am delighted to be at the helm of Somerset again. This will be my fifth year when I will be trying to lead the boys on to better things, and it should be a good year.
"I have still got that drive to go out and win the games. Leading the team puts that extra bit of pressure on me but also makes it a bit more special when you do well so the challenge is set. We appreciate what we have to do and all the hard work we have to put in."
On the appointment of 29-year-old batsman Hildreth as Trescothick's deputy, Somerset director of cricket Dave Nosworthy said: "I am delighted that Hildy has accepted the position of vice-captain and has stepped up into this key leadership role.
"It is a real opportunity for him as a senior player in the team to participate fully in team decisions and to further establish himself as a leader in the group."
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