Yze will play with the VFL team, which is aligned with Hawthorn.
The 31-year-old nominated for the NAB AFL national and pre-season drafts after being delisted by Melbourne at the end of last season, but was not selected by an AFL club.
Yze played 271 matches for the Demons after being drafted in 1994.
Box Hill Hawks football manager Dale Bower told The Age newspaper Yze was a huge pick up for the Hawks.
"Adem is a terrific acquisition to our playing list," Bower said.
"What he brings to the table on and off the field will be invaluable to the team and we have no doubt his experience will rub off on our younger players.
"Many feel he is extremely unlucky not to still be on an AFL list."
