In this article, we prove several multi-term refinements of Young type inequalities for both real numbers and operators improving several known results. Among other results, we prove that for all $0\leq \nu\leq 1$ and each $N\in\mathbb{N}$, \begin{eqnarray*} A\#_{\nu}B+\sum_{j=1}^{N}s_{j}(\nu)\left(A\#_{\alpha_j(\nu)}B+A\#_{2^{1-j}+\alpha_j(\nu)}B-2A\#_{2^{-j}+\alpha_j(\nu)}B\right)\leq A\nabla_{\nu}B, \end{eqnarray*} for the positive operators $A$ and $B$, where $s_j(\nu)$ and $\alpha_j(\nu)$ are certain functions. Moreover, some new Heinz type inequalities involving the Hilbert-Schmidt norm are established.

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