The club is searching for some midfield depth and has shown faith in the development of both players by signing them until the end of 2016.
Hutchings has come into his own in his second season at AFL level. The 23-year-old has played 14 matches this year and has been filling a run-with role in the last month with great success.
Bomber blockbuster looms for Eagles
In recent weeks he's done the job on Brisbane Lion Pearce Hanley (21 disposals), Richmond's Trent Cotchin (15 disposals and one goal) and Adelaide's Patrick Dangerfield (26 disposals and one goal).
Last Sunday he ran with Collingwood captain Scott Pendlebury and although the four-time All Australian had 31 touches, Hutchings equalled him with a career-best 31 disposals himself.
"I am very happy to be part of the club I supported all of my life for another two years," Hutchings told the Eagles' website.
"The last couple of years, being part of the club, have been the best time of my life.
"The (run-with) role has been challenging, but it's something I have enjoyed, learning a bit more each time I play against some of the best players in the competition. It's good to test yourself against the best players."
The Eagles have high hopes for Colledge despite the 19-year-old's injury issues over his first two seasons at West Coast. He played two matches earlier this season after some impressive form in the NAB Challenge.
"It's good to get something like that (re-signing) out of the way, so that I can concentrate on my footy, especially coming into WAFL finals," Colledge said.
"Obviously the start of the year was good for me and I got my opportunity to play my first game against St Kilda, which was amazing. I had a few injuries through the middle of the year, but back into it now and hopefully I can get back into the AFL team, and East Perth finals are coming up as well."
West Coast is still yet to confirm the future of youngsters Scott Lycett and Andrew Gaff.
Port Adelaide has shown an interest in luring Lycett back home to South Australia. However, the Eagles are intent on keeping the young ruckman and there have been reports that he is close to penning a new three-year deal.
Gaff confirmed earlier this year that he was keen to re-sign with the Eagles.
There are also reports that Jack Darling is close to signing a lucrative two-year extension. The talented young forward is already contracted to West Coast for 2015.