Oliver retired last fall after 20 major league seasons, 10 of them over three different stints with Texas. Oliver will work in a variety of areas with an emphasis on pitching.
Even before Thursday's announcements, Oliver had already been involved with the Rangers, including time at spring training.
Young will be recognized in a pregame ceremony May 17 before a game against Toronto, the organization that traded him to Texas in 2000. Young made his major league debut at the end of that season and spent all but the last of his 13 years in the majors with the Rangers.