The two joint Players Player of the Year winners were integral in Stenny’s promotion. McGuigan became the first Stenhousemuir player in 25 years to top 20 league goals while Ferry was a consistent presence in midfield with 44 appearances in all competitions.
Boss Brown Ferguson said: “Both plays have been key members of this season’s squad, playing major roles in our promotion.
“I am delighted to secure them both for next season. It’s fantastic for the club to retain them, they give us a strong platform to build from.”
Stenny have also snapped up keeper Graeme Smith from Brechin City and former Motherwell defender Morgyn Neill, who joins from Stranraer.
While the rebuilding process is not as radical as that required 12 months ago following relegation, Ferguson admitted it is more extensive than he would have liked with Chris Smith, Eddie Ferns, Ross Meechan, Ross Dunlop, Jamie Longworth, Nathan Blockley and Joshua Gracie plus three loan signings leaving for a variety of reasons.
Thomas Halleran has also renewed and Ferguson is confident of re-signing Ruaridh Donaldson and Colin McMenamin while there have been positive discussions with Alan Cook and Lewis McMinn.