Aquí hay una muestra de cómo hibernate.cfg.xml y cómo configurar su sessionFactory con él.
cfg.xml
<!DOCTYPE hibernate-configuration PUBLIC
"-//Hibernate/Hibernate Configuration DTD 3.0//EN"
"http://hibernate.sourceforge.net/hibernate-configuration-3.0.dtd">
<hibernate-configuration>
<session-factory>
<property name="connection.datasource">java:comp/env/jdbc/oracle</property>
<property name="dialect">
org.hibernate.dialect.Oracle9iDialect
</property>
.. other config goes here.....
</session-factory>
</hibernate-configuration>
Agregue este su applicationContext.xml.
<bean name="sessionFactory" class="org.springframework.orm.hibernate4.LocalSessionFactoryBean">
<property name="configLocation" value="classpath:hibernate.cfg.xml" />
<property name="mappingResources">
<list>
<value>...your hbm file location...</value>
</list>
</property>
</bean>