Mere, who made 28 appearances for Swallows last season and even contributed two goals, turned 37 in March, while Mokoena, who will be turning 35 in September, featured in 29 games and provided three assists.
Both players have been with the team prior to winning promotion to the DStv Premiership in 2020, and last season they helped the Soweto club to finish inside the top eight.
According to Swallows FC CEO Sipho Xulu, the pair are still very much a part of the club's plans for next season.
"Vuyo Mere and Lebohang Mokoena are coming back to the team next season," Xulu confirms to snl24.com/kickoff.
"They are both coming back because their contracts still gives them another year."
Xulu adds that, even though as a club they are concerned about the two stars' age, they still feel the former Mamelodi Sundowns stars can be beneficial to the team's continued growth.
"Ja, we are [concerned] but we are building on their experience. The young guys who are coming in are building on their experience. It's important that they guide the young guys who will be taking over from them, at least for a season or so," he continues.
"There are concerns about their ages but the players are good athletes, who can take us through this season with assistance to the young guys. It's a decision of mixing experience and youth, so that they can take over without any difficulties. We don't want to just throw them into the lion's den without any proper guidance."