Tolisso, who made 14 league appearances last season, signed an initial three-year deal last October.
However, he has now committed his long-term future to the club and declared his delight at having extended his stay.
"Everything went very fast but I am very pleased to extend with the club," he told Lyon's official website. "It shows that the club has confidence in me. I take that as a reward for the work (I have) done."
Algerian midfielder Fekir made 11 outings in the French top flight during the 2013-14 campaign and has also signed until 2019.
"I am very pleased to sign this contract, the club has a very good training, it is a pleasure for us," he added. "My wish? That Lyon win and for me to have playing time and make the most of every possible match."
Lyon begin next season under the stewardship of Hubert Fournier following the departure of Remi Garde.
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