The pair have trained with the club throughout pre-season and were offered contracts by manager Paul Tisdale.
Cureton (pictured) spent the second half of last season on loan at St James Park, while Oakley did the same from Leicester between September and November 2011.
Tisdale is delighted to have snapped up the duo, who both enjoyed loan spells at the club last season.
"We are all happy with it and they are two very good additions to our squad," he told the club's official website.
"They've been talked about and organised for a fair while now and the players had to, as much for their benefit as mine, complete some training and establish fitness.
"The important thing is I know they both fit here and we suit them. I think they both enjoy it here and that counts for a lot."
