Yadav will contest from Alwar and Lamba, son of former Union minister Sanwar Lal Jat, from Ajmer, the party said in a statement.
The bypolls will be held on January 29, following the death of two BJP parliamentarians -- Sanwar Lal Jat from Ajmer and Mahant Chandnath from Alwar seat -- last year.
Meanwhile, Shakti Singh Hada and Manju Basu will be the party's candidates for the assembly bypolls in Mandalgarh and Noapara constituencies in Rajasthan and West Bengal respectively, the statement added.
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