Evans came up through the Dragons age grades and went on to play for premiership sides Ebbw Vale and Newport RFC, before making his debut for the Men of Gwent in 2006 against the Scarlets. He also has international caps from his time with Wales Sevens and the U20s.
Speaking after putting pen to paper Evans commented: "I am just incredibly happy to have sorted this out so that I can focus solely on my rugby. I'm a local boy who enjoys playing for my home region and now I can do that for another two years.
"We are working hard here to build something long term; we have a lot of talented youngsters coming through and you get the feeling that something special is coming, so I am pleased that I can continue playing my part here."
Camarthen born Cudd has also put pen to paper this week on a new deal with the Dragons.
The 26-year-old flanker has made a total of 60 appearances for the Welsh region and has been with the region since 2012 after moving from Llanelli. Cudd has earned international caps with Wales U16s, U18s, U19s and Wales U20s.
Nic Cudd also commented: "I am excited to be extending my contract with the Dragons.
"I feel that my game has really advanced in the last two years and I look forward to continuing to push myself to be the best.
"We all feel that there is something special around the corner for us and I am proud to be a part of it."
Lyn Jones, director of rugby at Newport Gwent Dragons commented: "I have no doubt that this news will give everyone involved with the Dragons a huge boost.
"Both Lewis and Nic are quality players. Lewis has characteristics that make him a really good leader. He's very much a role model for any young players in the region.
"At 27 he is still a young man but has already achieved a lot in his career to date. I do believe that his best days are still ahead of him and its fantastic news that we will benefit from having him here for another two years.
"Nic has continued to impress me since my arrival and I am simply delighted to be offering him an extension to stay at the Dragons.
"It's a significant statement of intent from our business. Newport Gwent Dragons have a bright future and we are creating an environment that players want to be part of. We have put in hard work, both on and off the field over the last few years means that the business is an as best a possible position to gain respect and a higher league placing."
Guinness PRO12
Suite 208, Alexandra House,
The Sweepstakes
Ballsbridge, Dublin 4, Ireland