Former Great Britain player Sykes has also had Super League experience with London Broncos and Bradford Bulls.
He has turned down the chance of joining Leigh Centurions on a full-time contract to move to the Big Fellas Stadium.
Sykes said: “Andy Hay (Rovers ciach) showed me around the club and I was really impressed both by the training facilities and his vision for the club.
“Whilst it’s disappointing not being in Super League I’m going to do my best to help Rovers get there next season.
“Whenever I’ve played there the fans have always been passionate for their team and I look forward to playing in front of them next season and helping the club fulfil its ambitions.”
Featherstone have also signed 21-year-old loose forward George Marchant on a two year contract from Queensland Cup team Ipswich Jets.
The former Bradford Bulls academy player has spent the last two years in Australia.
George is proud of his family’s long association with Rovers.
His grandfather Alan Marchant played on the wing in the late 1950s and his great uncle is the Hall of Fame member centre Cyril Woolford. He is the nephew of former Castleford, Bradford and Great Britain centre Tony Marchant.
Rovers coach Andy Hay said “It’s great news for the club that Paul and George have put pen to paper. Paul brings with him a wealth of experience and the fact that he turned down the opportunity of a full time Championship contract at Leigh to join us shows how keen he is to help us progress next season.
“George is exactly the type of young forward we’re looking for and has an ideal pedigree. His time in Australia will have enabled him to develop his game and I’m looking forward to seeing him in a Rovers’ shirt.”