The defensive utility player played 7 games for the Iron on loan as they achieved promotion to League One, and Brian Laws sees him as being a key player if he decides to stay. Stev Angus, who played for City on loan before joining Scunthorpe, has also been offered terms.
Hinds played 49 times for City since joining on a free transfer from Tranmere two years ago. He played a big part in City's promotion from Division Three last season, but has struggled to stay in Taylor's plans since then.
Clayton Donaldson has also been released by the club. The 21-year-old striker made only a handful of substitute appearances since coming through the youth ranks at the club.