The pair of experienced forwards have had indifferent seasons, with James only joining the Raiders ahead of the 2021 season after spending time at the Gold Coast Titans.
The 30-year-old has played 158 NRL games, with 144 of them coming during a decade stint at the Titans. He managed 13 games for the Canberra Raiders this season, as well as another two while on a short-term loan at the Canterbury Bulldogs.
All Run Metres
Director of football Ben Ikin said James would be a great fit for the youth of the club.
“Not only is he still playing good football, Ryan is a great leader and models the behaviours we are trying to develop across our playing group," Ikin said.
It has also been reported by NRL.com that Dunamis Lui will be on the way out of the nation's capital.
The Raiders losing two props will create an intriguing dynamic for the club, with Lui playing 11 games this season.
The 31-year-old could still prove to be a valuable asset to another club, with the Brisbane-born veteran a consistent performer when called upon.
The Raiders have made numerous re-signings already for 2022, including front row options Emre Guler and lock Trey Mooney. While they are yet to make any additions to their squad, it seems clear Ricky Stuart is going with youth in both the forwards and backs, given their re-signing strategy has also seen the club lock up Sebastian Kris, Xavier Savage, Harley Smith-Shields, Matthew Timoko and Semi Valemei.
Moving Lui and James on will allow the club to find a way in for the likes of Mooney and fellow young forward Darby Medlyn, should he be re-signed.