You are on the right track! The array returned from Split will have the MSB at index 0, and the LSB at index 1. You just need to convert those to bytes and you're good to go.
var values = hexValues.Split(new []{' '},StringSplitOptions.RemoveEmptyEntries);
if (values.Length != 2)
throw new ArgumentException("Unexpected input format.");
var msb = Convert.ToByte(values[0]);
var lsb = Convert.ToByte(values[1]);
var result = (msb * 256) + lsb;