I have used several techniques to treat cheeks that have hollowed:
Fat Transfer - a surgical procedure; long lasting
Cheeklift / Facelift - a surgical procedure; possibly insufficient for hollowed cheeks
Radiesse filler - amongst the longest lasting fillers
Sculptra injections - longer lasting volume than Juvederm or Restylane
For truly hollowed cheeks such as you've described, I've seen good-to-great results with Fat Transfer, as well as with injectables such as Sculptra and Radiesse. I do not typically use Radiesse as much as Sculptra, but this is an area where I might choose it.
Surgical lifting of the cheek can be helpful, often in conjunction with Fat Transfer. I do not recommend cheek implants for true cheek hollowing.
I do not favor the hyaluronic acid fillers such as Juvederm, Perlane or Restylane as they typically don't have a favorable cost to durability benefit.
Your best bet is to consult with a qualified surgeon that has significant experience with fat transfer that can do a full evaluation and show you pictures of patients similar to you. And it may seem obvious, but is always important to ask about and see specific before and after examples of patients that have had the very same procedure in the very area you are considering.
Hope this helps,
Nick Slenkovich, MD FACS