Ahead of the forthcoming season the Lilywhites have secured two new players as well has extending the contracts of two existing squad members
Hoban, 21, joins the club from Airtricity First Division side Mervue United, while 24-year-old Dillon arrives at Oriel Park from Airtricity Premier Division champions Sligo Rovers.
The signings mark manager Stephen Kenny's first foray into the transfer market since taking over the reins in November 2012.
Meanwhile, the Lilywhites have also announced that they have secured the signatures of two of the club's existing squad members.
Midfielder John Mountney and defender Eoghan Osbourne have agreed to extend their stay with the Louth club for the 2013 season.