The Mets announced the deal Tuesday night after sweeping a doubleheader at Atlanta. New York designated outfielder Collin Cowgill for assignment.
Young hit .242 with one home run, six RBIs and eight stolen bases in 57 games this season before Colorado designated him for assignment on June 12. The 28-year-old from New Brunswick, N.J., is a career .261 hitter with 70 steals.
The 25-year-old McHugh went 0-1 with a 10.29 ERA in three games this year, including one start. The Mets designated him for assignment on June 15.