  We develop the quantum inverse scattering method for the one-dimensional
Hubbard model on the infinite interval at zero density. $R$-matrix and
monodromy matrix are obtained as limits from their known counterparts on the
finite interval. The $R$-matrix greatly simplifies in the considered limit. The
new $R$-matrix contains a submatrix which turns into the rational $R$-matrix of
the XXX-chain by an appropriate reparametrization. The corresponding submatrix
of the monodromy matrix thus provides a representation of the Y(su(2)) Yangian.
From its quantum determinant we obtain an infinite series of mutually commuting
Yangian invariant operators which includes the Hamiltonian.
