The 18-year-old joined Dumbarton at the start of the season and went on to play 18 games for the Sons shirt, scoring one goal in a Scottish Cup tie against Sauchie in November.
Dumbarton said in a statement: “All at Dumbarton FC thank Ryan for his efforts while on loan to us, and wish him every success in the future.”
Schiavone signed a two-year contract extension with Hearts last year after earning his first pro contract back in 2019.
The forward, who can play as a striker or as an attacking midfielder, joined from Crossford Sports BC at under-13 level and was a regular in the Hearts under 18 side last season..
He has represented the Scotland under-16 side and just 10 days after signing his first pro deal.