He was tempted out of retirement by London Irish in 2013 and featured 10 times before announcing his return to Rodney Parade where he first played regional rugby in 2003.
Dragons Director of Rugby Lyn Jones signed Gough for the Ospreys back in 2007 and has once again put his faith in the vastly experienced star, who has 64 Wales caps to his name.
Gough is returning to the region 18 years after making his debut for Newport RFC and is already looking forward to his comeback.
"I am very excited to be returning to Welsh rugby," said Gough. "My rugby career was first formed at Rodney Parade, so it's fantastic to have the opportunity to play back there once again.
"The squad have come so far under Lyn Jones' guidance this season - it's great to see that sleeping giant has finally been awoken."
Gough will be joined at the club by 29-year-old former Leicester and Gloucester front rower Young, who has signed a two-year deal with the region.
A Scotland U21 tight-head, Young will link up with former Leicester team-mate and fellow Dragons signing Boris Stankovich at the start of next season.
"I am really happy to be joining the Dragons. Lyn has a good squad and I am honoured that I have the chance to be part of that next season," added Young, who is currently with RFU Championship outfit Jersey.
"Having previously played in the PRO12, I understand how difficult of a league it is. So I am looking forward to stepping up for the Dragons and teaming up once again with Boris Stankovich.
"I am excited for pre-season, to get down to Wales, meet the boys and get stuck in. The Dragons are improving their game all the time under Lyn's guidance and I am excited to start playing for the region next season."