Geary has not played since round seven when he ruptured a ligament in his elbow and required surgery, but is regarded as an important cog in St Kilda's rebuild.

His manager, Anthony McConville, of Mac's Sports, said Geary, 26, had agreed to a two-year deal.

"It's good to get it sorted out. It's good for Jarryn and it's good for the club," he said.

Geary had his best year as a Saint in 2013, missing just one match and finished fourth in the best and fairest count. He averaged 18 disposals a game and even curbed Marc Murphy and Patrick Dangerfield as a tagger.

He was elevated into the leadership group this season and has been mooted as a possible captaincy candidate when Nick Riewoldt retires. He is due to return to the field in a fortnight.

Gwilt, who turns 28 next month, has managed 13 matches this season and remains a key component in defence. He is expected to remain at the club which took him as a fourth-round selection in 2004.

The pair sit in the age group the Saints need to retain, especially as they have lost Nick Dal Santo and Brendon Goddard in recent years and Lenny Hayes will retire at the end of the season.

Veterans Sam Fisher and Clint Jones are also off contract this year but the Saints' future will be built around the likes of Jack Steven, Tom Hickey, Jack Billings, Luke Dunstan and Blake Acres.

St Kilda's stunning win over Fremantle last Saturday week reinforced there are green shoots on the list, but management has left open the possibility of asking the AFL Commission for a priority pick should the Saints finish at the foot of the ladder.

"It wouldn't be appropriate to make a decision on that until the draft order has been determined at the end of the season," said the club's football boss, Chris Pelchen.

It's been a tough year for the likes of Leigh Montagna, Riewoldt and Hayes, a point club president Peter Summers acknowledged in a letter to club members on Tuesday.

"I want to make a special acknowledgement of the response of our senior players," he said.

"While we set no limits on the short term, the long-term future undeniably rests with the emerging group of talented, young players, and the success of their development is so critically linked to the attitude of the senior playing group. Young players need time to develop.

"They need the pre-seasons, game time and the learning through experience. But they need leadership and mentors just as much. The response of our senior group of players this year has been outstanding. As a group they had created a remarkable period of success and will go down in our history as such.

"Their demonstrated passion to see the club return to once again challenge for flags has been outstanding and reflects the quality of these men, adding another dimension to the legacy this group will leave behind. As a result, our young players are learning from the best."