The former Southampton trainee was signed by Peter Taylor on a free transfer from Southend a year ago, having previously played for him during a loan spell at Brighton.
However, he started just 4 games last season and made 8 substitute appearances, with none of them bearing any goals. He was loaned to Lincoln where he found the net once in 5 appearances.
This season the 6ft forward has come off the bench 4 times in the league and started the two LDV Trophy matches, scoring his first goal in Hull City colours in the 3-1 defeat against Scunthorpe.
There is speculation that Webb could be making way for a new forward to sign for City.