Harvey Fialkov of the Sun-Sentinel reports that the contract is a one-way deal worth $925,000.
Hayes was a second-round pick by the Maple Leafs in 2008, but chose to attend Boston College instead of turning pro right away. He was traded to the Blackhawks in 2010, and after three years at the school he made his NHL debut with Chicago in 2011.
Last November, the Blackhawks shipped Hayes to the Panthers in the deal that sent Kris Versteeg back to Chicago.
Hayes played 53 games for the Panthers last season, scoring 11 goals and recording seven assists.
- Dan Gartland