The Immirzi parameter (also known as the Barbero-Immirzi parameter) is a numerical coefficient appearing in loop quantum gravity, a nonperturbative theory of quantum gravity. The Immirzi parameter measures the size of the quantum of area in Planck units. As a result, its value is currently fixed by matching the semiclassical black hole entropy, as calculated by Stephen Hawking, and the counting of microstates in loop quantum gravity.
Read more about Immirzi Parameter: The Reality Conditions, Black Hole Thermodynamics, Immirzi Parameter in Spin Foam Theory, Interpretation