The men, both aged 17, were detained by officers from the West Midlands Counter Terrorism Unit at their home addresses in Coventry this morning.
They were believed to be preparing to travel to Syria to engage in terrorism alongside Islamic State (IS) extremists.
They are currently in custody in the West Midlands Police area, the force spokesperson said.
The arrests are part of a pre-planned operation and there was no immediate risk to the public, he added.
Earlier this month, nine British nationals, including two women, four children, and son of a Labour Party councilor in Rochdale were detained in Turkey after they allegedly tried to enter Syria illegally.