But according to a HITC.com poll, the club's fans are split right down the middle over who should get the armband between New Zealand defender Reid and homegrown midfielder Noble.
Should Nolan leave the club, as is expected, a new captain will need to be appointed for what is one of the most historic periods in the club's history with next season being their last at the famous Boleyn Ground before moving to the 54,000-seater Olympic Stadium
It is also a season which will see the East Londoners compete in Europe for the first time in nearly a decade, so it promises to be a long, tough campaign.
But choosing a new skipper is also proving tough for the club's fans, over 800 of whom voted, with an equal 42% each opting for Noble and Reid respectively.
Cult hero goalkeeper Adrian was the next most popular choice with eight per cent of the vote while James Collins was third with four per cent. Nolan registered just one per cent of the share.
So let's weigh up the two candidates.
Noble is a dyed-in-the-wool Hammer from birth and has consistently been a first-team regular since breaking into the senior side aged 17. He is Mr West Ham, the closest you will get to a fan on the pitch.
He would be a popular choice with his fellow Hammers fans but is coming off the back of one of his worst seasons personally in the claret and blue.
New boss Bilic's first move on returning to East London was to sign Spanish U21 international midfielder Pedro Obiang from Sampdoria.
And the club is being linked with a host of gifted midfield stars such as Paris St Germain's Yohan Cabaye and Marseille's Dimitri Payet - as per the Daily Mail. Therefore Noble will face increased competition for places and may not be a certain starter, which can only hinder his chances.
The 28-year-old Canning Town-born player has played 282 games for his boyhood club, scoring 31 goals and is the club's main penalty taker.
Reid is the club's best defender and probably their most valuable asset too.
The quiet Kiwi leads by example on the pitch and has strength and pace in abundance. Very rarely putting a foot wrong he is focused and determined and a real fans' favourite at Upton Park.
He was linked with some of the Premier League's top clubs before signing a new six-year deal with the club back in January and will be a guaranteed starter every game.
The 26-year-old has played 121 games for the club scoring six goals, most famously against Milwall in West Ham's season in the Championship in 2011/12.
If Bilic goes with either of these two it will be popular with the Upton Park faithful, who the club are keen to ensure are happy and fully supportive of the side going into such a historic and crucial campaign.