Dario Zanatta and Lewis Moore have both extended their Hearts contracts until May 2020.
Zanatta, 21, will remain on loan at Alloa until the end of the season, while 20-year-old Moore has just returned to Riccarton from a loan spell with Forfar.
Both players have agreed to commit their futures to the Edinburgh club until at least the end of next season.
Canadian forward Zanatta was named Ladbrokes Championship Player of the Month in December and has scored six times in 23 appearances for Alloa so far.
Winger Moore scored twice in 16 games for Forfar in League One.