Inelastic neutron scattering (INS) experiments and random phase approximation calculations have been used to investigate the low-energy spin-wave excitations in PrNi2Si2. The modulated magnitude of the ordered magnetic moments of Pr3+ ions implies that the associate, longitudinally polarized magnetic excitations are more intense and dispersive than the usual transverse spin waves. Within the random phase approximation the results are in good overall agreement with the predictions made by the model determined previously from the paramagnetic excitations. The most unusual observation is the well-defined amplitude mode detected close to the magnetic Bragg point existing simultaneously with the phason mode. At low energies, an extra mode is observed to hybridize with the magnetic phasons in the neighborhood of the magnetic Brillouin zone center. A magnetoelastic interaction between the magnetic excitations and the longitudinal phonons is able to explain part of the disturbances, but it is concluded that the extra mode must be of some other, unknown origin.