Depends on who does the extradition.If he gets handed over to Australia(which doesn't have the death penalty),then I think the Indian government has to assure Canberra that he won't be strung up to even have a chance to lay hands upon him.
Generally Australia will not extradite a citizen facing the death penalty, but the government has indicated that policy could be flexible for the most heinous of terrorism cases. I can't see that being applied to what Hicks is being accused of.