Perez has been at the club since he was drafted with Pick No.35 in 2019, but has since suffered two ACL injuries, giving him minimal chance to show his potential.
However, Perez managed 16 games at North this season, and collected a career-high 24 touches in the final game of the season, and with that the club saw enough potential to offer a new contract.
Young arrived at the club ahead of last season after spending two years at the Western Bulldogs.
He has since played 35 of a possible 44 games for the club, and averaged a touch over 15 disposals down back in 2022.
“These contract extensions are just reward for the work they have put into becoming better footballers.
“They have both faced adversity early in their careers, but their hard work is beginning to pay off and we are looking forward to seeing where they can take their football in the future.”
The pair add to the recent run of re-signings at Arden Street, with Cameron Zurhaar, Todd Goldstein, Aaron Hall and Curtis Taylor among those to have inked on the dotted line at the Roos in recent weeks.