The former Brisbane Heat pair have signed two-year deals.
Their arrival completes the club’s local signings and leaves one spot open for an overseas player on the Renegades roster.
“Josh brings plenty of experience and rounds off our group of quicks really well,” Renegades Coach Michael Klinger said.
“I was keen to add a left arm bowler to our squad. He can swing the ball, take early wickets, he’s got a good change of pace and he bowls really well at the death.
“While Jack is one of the most exciting young all-rounders in Australia especially in short-form cricket. He bowls with good speed, can bowl up front with the new ball and can bowl at the death.
“With the bat he can provide some good hitting late in the innings and together with Will Sutherland we have two very exciting all-rounders, not only for this season but into the future.”
Lalor has player 48 BBL games and spent the last five seasons with Brisbane Heat. He’s taken 53 wickets throughout his BBL career, including a hat-trick in BBL|08.
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“I’m looking forward to getting around a new environment and continuing to learn and evolve,” Lalor said.
“Playing under Michael Klinger and Aaron Finch is a huge carrot. They’re two guys I have never worked with before but have had so much success, that’s exciting and I look forward to doing what I can to contribute.
“There is a great mix of world class talent and raw ability in this bowling group. I’ll fit in somewhere in the middle learning from Kane Richardson and James Pattinson and passing on knowledge to others where I can.”
Prestwidge is a fast bowler and powerful middle order batsman who played ten games for the Heat.
“It has been a big couple of months with the move to Melbourne and I’m really excited about the opportunity at the Renegades,” Prestwidge said.
“It’s a strong squad and there is plenty of competition for spots but that will bring out the best in each of us and I’m looking forward to getting started.”
Renegades squad (to date): Noor Ahmad (AFG), Cameron Boyce, Zak Evans, Aaron Finch (c), Jake Fraser-McGurk, Sam Harper, Marcus Harris, Mackenzie Harvey, Jon Holland, Josh Lalor, Shaun Marsh, Mohammad Nabi (AFG), James Pattinson, Mitch Perry, Jack Prestwidge, Kane Richardson, Will Sutherland, Imran Tahir (RSA), Beau Webster.