Striker Azeez has been borrowed from Charlton and his first month stay ends this week while defender O'Connor has another week remaining on his loan from Blackburn.
The pair have both impressed manager Alan Knill, who is pleased he will be able to keep the pair.
"Ade has given us something extra during the time he's been with us and he's learning all the time," Knill told the Western Morning News.
"If there's a better young defender in this league than Anthony O'Connor, I haven't seen him.
"I thought he was terrific. But he's like that every day in training as well.
"I've already spoken to Charlton and Blackburn, and they're happy for both players to stay."