The 27-year-old left the Scottish Premiership side for Hibernian on loan.
The 27-year-old - who, after making two appearances for the Hoops in the first half of the campaign, joined Hibernian on loan in January - inspired Alan Stubbs' men to a 3-2 win against Rangers and their first success in the competition for 114 years.
And after bagging a brace in the victory, Stokes has received Hay's backing that he could have a role to play under Brendan Rodgers next term.
"He was very obviously not flavour of the month with Ronny Deila, whatever had happened between the two men, but one of Brendan Rodgers’ first decisions could be whether or not Celtic take the year option that is still on Stokes' contract," he told the Evening Times.
"There are one or two off-field issues that have blighted Stokes’ Celtic career but he could well have the chance now to go and take a second chance at making it work at the club.
"On Saturday's evidence there is plenty to suggest that he still has something to offer but it will come down to whether or not Rodgers wishes to give him a try or whether he wants to bring in fresh bodies."
With Rodgers likely to be using the coming days to evaluate what is available to him already before dipping into the transfer market, he is surely going to see that the lack of depth up front is a concern that needs to be addressed.
Leigh Griffiths' quality is undeniable, but an injury to their talisman would surely leave the Bhoys fairly impotent in front of goal with both Carlton Cole and Colin Kazim-Richards struggling for form since their respective arrivals.
While Stokes' form in the Scottish Championship may still not be enough to convince Rodgers that he has all the options he needs, he has proven at Easter Road, as well as at Celtic previously, that he knows where the back of the net is.
And as Hay suggests, his cup final heroics sent a clear message that he could still make an impact should he be given another chance with his parent club.