Wingman Hammill, getting his career back on track, has been rewarded for a number of impressive displays, having linked up with his former club on a short-term basis last month.
The Liverpudlian, who left Huddersfield Town at the start of September after his contract was terminated by mutual consent, has agreed terms until June.
Meanwhile, young Newcastle United forward Toney, 19, who joined on an initial 28-day loan early last month, will now remain with the Oakwell outfit until January 9.
The decision to agree extended terms with Hammill will be particularly well received by Reds supporters, with the 27-year-old having found a home from home in his third spell at the club.
Hammill, who netted in the Reds’ Johnstone’s Paint Trophy Northern section semi-final tie at Wigan – which saw the visitors win on penalties to move within two matches of a Wembley appearance – said: “Since coming back I’ve enjoyed every minute and I’ve said all along that I would love to remain here beyond January.”
Meanwhile, Huddersfield Town and Hull City have received untimely injury blows ahead of the hectic festive programme.
Influential Town midfielder Dean Whitehead, outstanding since joining the club from Middlesbrough in the summer, is out for up to eight weeks with a knee injury sustained in Saturday’s 2-0 win at Birmingham City.
Tigers defender Alex Bruce is set to be sidelined for a month after injuring his back in the weekend loss to Leeds United.
Sheffield United’s League One home game against Blackpool has been switched to Tuesday, January 26, the same night Doncaster Rovers welcome Port Vale in another rearranged match.