I trust that the Hyperion you are talking about is the original heroic Squadron Supreme one - with the orange costume and the atomic orbital symbol on his chest.
Although Hyperion is a Marvel copy of Superman, he is not as powerful as Superman (as per normal with Marvel vs DC 'non-cosmic' characters.
Majestic on the other hand is currently regarded as being at Superman levels - hell he even occupies one of the DC universes in their (52) multiverse.
Let's take a quick look at the characters,
Hyperion:
Superstrength (over time this has been quoted at different levels, ranging from 75 tonnes originally, to the current 100+ tonnes. However as usual, this would translate in to several thousand tonnes if you look at the feats he accomplishes - like ripping open tanks and the like).
Superspeed (Extremely fast reaction time, many times faster than a human - sufficient for him to be able to react to Marvel speedsters like the Whizzer - so more somewhere between 15 - 25 times human reaction times).
Invulnerability (Very hard to hurt - at similar or greater levels to the Hulk - has withstood blows from Thor's hammer without major injury. However, still vulnerable to Argonite, an element having the same effect as Kryptonite - power loss etc).
Flight (Pretty quick - somewhere between Mach 3 - 6 in the atmosphere and possibly quicker in space, but likely no more than Mach 12).
Nuclear Vision (Serious firepower, able to reach temperatures of 12000 deg Fahrenheit).
Enhanced Senses (Definite vision enhancement, thermal vision but no X-ray vision. Other senses may be some what above human norm but not Daredevil level).
Eternal Powers (So far has been shown to be able to regenerate damage - he once repaired his eyes, as he was blind - but this has taken time and concentration. He has not shown that he knows or has the other Eternal powers that Earth’s eternal have).
Fighting Ability (Pretty good, but he has said in the past that he lacked a lot of people at his power level to fight so his brawling skills have not had the rounding out that his main Marvel earth rivals had got).
Majestic:
Superstrength (This has really fluctuated over the years depending upon the writer but I would say that he was approximately the same level as Superman - so this puts in to the lifting millions of tonnes range. I chose to ignore the planet pushing events…).
Superspeed (Again from everything presented he has speed on par with Superman, so his practical reaction time is in the order of hundreds of times faster than a normal human).
Invulnerability (Again appears to be on a similar level to Superman, possessing immense durability. Also has no specific weakness ‘element’ like Argonite).
Flight (Ability to fly close to the speed of light, and potential to exceed this boundary – but this last feat was shown at the same time as the planet moving affairs so there you go…)
Laser Vision (Again the power of these beams has fluctuated over the years but seems currently capable of cutting through pretty much any material he has encountered – so output to likely to be above 12000 deg Fahrenheit).
Enhanced Senses (Has displayed a wide variety of senses ranging from the traditional extreme telescopic vision, matching hearing and other senses. Then there’s the weirder ones like his 4th dimensional ones).
Other powers (He can project energy from his hands, has at least some limited telepathy and telekinesis, recovers from non life threatening damage quite quickly, is immortal and has super freezing/windy breath like Supes).
Fighting Ability (He has been around for thousands of years and has been trained in martial art fighting styles – with and without weapons).
With all of the examples we have seen displayed over the years, I would have to say that Majestic would beat Hyperion in a fair fight. The fight would not be quick or easy but the outcome is in no doubt.
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