Hamzaoğlu replaced former Italian national team manager Cesare Prandelli as Galatasaray head coach in November under current president Duygun Yarsuvat.
The former Akhisar manager signed a one-year deal worth $500,000 making him one of the lowest paid members in the squad and one of the lowest paid managers in the league.
Hamzaoğlu won the league title as a player for Galatasaray and led the Istanbul giants to the championship as a manger in his debut season.
Ertuğrul Sağlam and Aykut Kocaman are the only other Turkish managers to have achieved the same feat in the league.
Sağlam lifted the title with Beşiktaş as a player and also as a manager with Bursaspor. Kocaman won the league with Fenerbahçe as a player and also as head coach of the Yellow Canaries.