A well-known theorem due to Fefferman provides a characterization of Fourier multipliers from H1(T) to ℓ1, i.e. sequences (λn)n=0∞ such that n=0∑∞λnf(n)≲∥f∥L1(T), where f(x)=∑n=0∞f(n)einx. We extend it to the space H1(TN) of Hardy martingales, i.e. the subspace of L1 on the countable product TN consisting of all f such that the differences Δnf=fn−fn−1 of the martingale wrt the standard filtration generated by f satisfy (t↦Δnf(x1,…,xn−1,t))∈H1(T). The key ingredient is a theorem due to P. F. X. M\"uller stating that the classical Davis-Garsia decomposition E(n=0∑∞∣Δnf∣2)21≃f=g+hinfEn=0∑∞∣Δng∣+E(n=0∑∞E(∣Δnf∣2∣Fn−1))21 may be done within the space of Hardy martingales.