There are many benefits from these. Out of which the following are the most important one.
Productivity : Hibernate reduces the burden of developer by providing much of the functionality and let the developer to concentrate on business logic.
Maintainability :As hibernate provides most of the functionality, the LOC for the application will be reduced and it is easy to maintain. By automated object/relational persistence it even reduces the LOC.
Performance : Hand-coded persistence provided greater performance than automated one. But this is not true all the times. But in hibernate, it provides more optimization that works all the time there by increasing the performance. If it is automated persistence then it still increases the performance.
Vendor independence : Irrespective of the different types of databases that are there, hibernate provides a much easier way to develop a cross platform application.