Twenty-four-year-old Savea and 21-year-old Barrett have recommitted through to the end of the 2019 season.
Twenty-five test Savea made his Super Rugby debut for the Hurricanes in 2013 and All Blacks Test debut in 2016, while Barrett made his Super and Test debut in 2017. He has played five Tests.
"Wellington is my home town and it's great I can stay here and contribute as much as I can for the Hurricanes," said Savea.
"Also, we all know how important next year is for the All Blacks with the Rugby World Cup in Japan and I really want to be a part of that campaign."