Liam Dolman, 20 and Alex Dyer, 17 have both been rewarded. Dolman has signed a new deal until 2009 and Dyer has had his scholarship upgraded to a professional contract and is also now contracted until 2009.
"Both of these new contracts are fully deserved," Cobblers manager Stuart Gray told his club's website.
Doolman has made 12 league and cup appearances this season, while Dyer has featured three times.