Hayles scored 18 goals in Fulham's promotion winning season in 2000-01 and with Simon Johnson potentially the only striker left at Elland Road, Blackwell sees the 32-year-old as the ideal man to lead the attack next season.
The boss is also chasing midfielder Tiatto from Manchester City and central defender Butler from Wolves, both on free transfers.
Tiatto and Butler, both 31, are out of contract, as Blackwell looks to start his rebuilding.
With Wolves close to signing defender Michael Duberry, Blackwell will look to fill the void left and Butler may easily fit the bill.