Abstract. Hyperons are a unique probe to study the non-perturbative aspects of the strong interaction. At HADES, they are produced in proton or pion induced reactions at kinetic energies up to 4.5 GeV. Already in the past, HADES has shown its potential for hyperon physics, including λ polarization, λ-N interaction and measurements of the λ(1405) and λ(1520) line-shapes. The HADES detector has recently been extended with a forward detector, partly developed for the PANDA experiment, extending the acceptance for hyperon channels at forward angles. The PANDA@HADES initiative gives the opportunity for an even richer hyperon program. The current main objectives are the production of hyperon resonances, electromagnetic decays of hyperons with special focus on hyperon Dalitz decays and double strangeness production, including a λ – λ interaction study and ξ− production. First results from the ongoing studies promise a successful execution of the program. In the future, there is the possibility for a pion beam experiment with HADES, enabling further hyperon studies.