Aditya and Harpreet were arrested after a brief chase while the injured policeman, Sushil Tyagi, was admitted to a hospital.
The incident took place in Model Town area of Noida when the traffic police signalled the car driver to stop.
The car did not stop and hit Tyagi while trying to escape, police said.
Both the accused are engineering student at a Greater Noida college.
"The car has been seized and the two students have been booked," said Ravi Kant Parashar, SHO, Sector 58 police station.