Miller has been a shining light during a tough period for the Suns and will become the official face of the AFL club.
After being in Gold Coast's leadership group for five years, Miller will share the captaincy duties with ruckman Jarrod Witts.
"I have a lot of love for this club and want to serve it as best I can," Miller said.
"I'm thrilled that the playing group and the club have put the trust in me to lead us alongside Jarrod and I'm really looking forward to what's ahead.
"We've got some young leaders that are starting to emerge in both their football and off the field, which will put us in good stead for an exciting future."
Witts will return from an ACL injury that ruled him out for most of the 2021 season to boost the Suns' midfield group.
Defender Sam Collins will continue as vice-captain, while Swallow will remain in the leadership group with Sean Lemmens, Nick Holman and Noah Anderson.
"(Swallow) stepped up to lead this club during a tough period and now makes the decision to put the club first and pass the baton over to Touk, to lead the club into an exciting new phase in its journey," Suns football performance boss Wayne Campbell said.
"It's clear to see the leadership qualities that both Jarrod and Touk have, and we're excited by the opportunity that presents them to lead our club into the next phase of our development."
This season shapes as a defining one for the Suns, who are yet to qualify for finals since entering the AFL in 2011.
After finishing 16th last season, Gold Coast will need to improve significantly for Stuart Dew to earn a contract extension beyond this year.
The Suns will have to do it without young star forward Ben King, who injured his knee at training earlier this month and will miss the entire season.
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