McInerney, who was already contracted for next year, has added two years to his deal, while Lester has confirmed his future for the next 12 months after entering 2023 unsigned.
Lester's re-signing comes a year after the veteran defender was delisted and then re-signed as a rookie, with the 30-year-old enjoying arguably a career-best season in 2023 to earn another extension.
The new one-year deal will take the Brisbane backman into his 14th season with the Queensland club, having first joined the Lions through the 2010 National Draft.
McInernery's extension comes as the Brisbane big man continues to hold down his role as the club's first-string ruckman.
The 29-year-old has played 121 games for the Lions since making his debut in 2018 and will now be in line to reach 150 and further with his new contract.
“Oscar and Frog (Lester) are both very valuable to us on the field, but they are also two great people that are much-loved and really help build the great culture we have at the Club,” Brisbane football boss Danny Daly said in a club announcement.
“I think Frog is a great story of someone who continues to make the most of their opportunities and give their absolute all.
“He has signed several one or two-year contracts and does so because he puts the team before his own benefit and that's why at the same time, he continues to be in our leadership group.
“Oscar is an outstanding ruck and continues to give our midfield great opportunities. He works hard to improve his game each week and will be a key player for us come finals and again for the three seasons.”
The pair of re-signings follow Brisbane's recent retention announcements for Jack Payne (2029), Jaspa Fletcher (2026), Callum Ah-Chee (2025), James Madden (2024), Henry Smith (2026) and Darcy Fort (2025).