After seeing their respective tenures come to an end this off-season, the duo have returned to their home state of Western Australia in a move to the state league level.
Both former Subiaco players prior to joining the top flight, Hayden and Schofield will be welcome additions for the 2021 premiers.
"We are thrilled with the addition of Kyron and Taj to our playing list. Both players will add depth to our midfield brigade and bring some speed across the park," Lions football boss Kristian Dicton said in a club statement.
"They are both driven young men who will add to the professionalism at the club after their stints at AFL level and are keen to get Subiaco FC back in finals contention in season 2023."
Hayden departed North Melbourne after four seasons with the club, where he played 17 games - five coming in 2022.
Schofield followed the footsteps of his father and premiership player Jarrad in joining Port Adelaide, who he joined through the 2020 Rookie Draft.
The 20-year-old did not play at AFL level during his time with the Power.
Subiaco finished seventh this season after recording seven wins and 11 losses in 2022.