The duo took charge of the Saddlers back in January with their current deals set to expire at the end of this season. But they have now penned new one-year rolling contracts, much to the delight of everyone involved.
Chairman Jeff Bonser said: "We are very pleased to have secured the long-term future of both Chris and Martin. The board of directors have been most impressed with the way in which they have gone about their business since joining the club in January.
"They are building for the future and we felt that it is was important to secure their services. A rolling contract gives both parties security and will enable Chris and Martin to continue their good work.
"We believe they are the right men to take this club forward. They are hard-working and totally committed to this football club and by securing their futures, this signifies our commitment and belief in them."
Hutchings added: "I am delighted to have signed this new deal. I have enjoyed my work here so far and am excited by what the future holds in store for this football club. The infrastructure that is in place here is fantastic and I believe that we have an excellent platform on which to work from as we strive to take the club forward."