Numerical simulations for the merger of binary neutron stars are performed in full general relativity incorporating both nucleonic and hyperonic finite-temperature equations of state ( EOS ) and neutrino cooling for the first time . It is found that even for the hyperonic EOS , a hypermassive neutron star is first formed after the merger for the typical total mass \approx 2.7 M _ { \odot } , and subsequently collapses to a black hole ( BH ) . It is shown that hyperons play a substantial role in the post-merger dynamics , torus formation around the BH , and emission of gravitational waves ( GWs ) . In particular , the existence of hyperons is imprinted in GWs . Therefore , GW observations will provide a potential opportunity to explore the composition of the neutron star matter .