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The recent discovery of long-range magnetic order in atomically thin filmshas triggered particular interest in two-dimensional (2D) van der Waals (vdW)magnetic materials. In this paper, we perform a systematic theoretical study ofthe magneto-optical Sch\"{a}fer-Hubert effect (MOSHE) in 2D vdWantiferromagnetic \textit{M}PS$_3$ (\textit{M} = Mn, Fe, Ni) with multifoldintralayer and interlayer magnetic orders. The formula for evaluating the MOSHEin 2D magnets is derived by considering the influence of a non-magneticsubstrate. The MOSHE of monolayer and bilayer \textit{M}PS$_3$ are considerablylarge ($>2^{\circ}$), originating from the strong anisotropy of in-planeoptical conductivity. The Sch\"{a}fer-Hubert rotation angles are surprisinglyinsensitive to the orientations of the N\'{e}el vector, while theSch\"{a}fer-Hubert ellipticities are identified to be a good criterion todistinguish different interlayer magnetic orders. Our work establishes atheoretical framework for exploring novel 2D vdW magnets and facilitates thepromising applications of the 2D \textit{M}PS$_3$ family in antiferromagneticnanophotonic devices.

Giant Magneto-Optical Sch\"{a}fer-Hubert Effect in Two-Dimensional van der Waals Antiferromagnets \textit{M}PS$_3$ (\textit{M}=Mn, Fe, Ni)