We investigate the young stellar population in the Vela Molecular Ridge, Cloud-D, a star-forming region observed by both the Spitzer/NASA and Herschel/ESA space telescopes. The point-source, band-merged, Spitzer-IRAC catalog complemented with MIPS photometry previously obtained is used to search for candidate young stellar objects (YSOs), also including sources detected in less than four IRAC bands. Bona fide YSOs are selected by using appropriate color-color and color-magnitude criteria aimed at excluding both Galactic and extragalactic contaminants. The derived star formation rate and efficiency are compared with the same quantities characterizing other star-forming clouds. Additional photometric data, spanning from the near-IR to the submillimeter, are used to evaluate both bolometric luminosity and temperature for 33 YSOs located in a region of the cloud observed by both Spitzer and Herschel. The luminosity-temperature diagram suggests that some of these sources are representative of Class 0 objects with bolometric temperatures below 70 K and luminosities of the order of the solar luminosity. Far-IR observations from the Herschel/Hi-GAL key project for a survey of the Galactic plane are also used to obtain a band-merged photometric catalog of Herschel sources intended to independently search for protostars. We find 122 Herschel cores located on the molecular cloud, 30 of which are protostellar and 92 of which are starless. The global protostellar luminosity function is obtained by merging the Spitzer and Herschel protostars. Considering that 10 protostars are found in both the Spitzer and Herschel lists, it follows that in the investigated region we find 53 protostars and that the Spitzer-selected protostars account for approximately two-thirds of the total.