Senior police inspector Niteen Thackeray of the Thane Crime Branch Unit-I told reporters that they were arrested near Kalwa bridge after receiving a tip-off.
The police official said that the police is trying to reach the person who handed over the idol to the duo for disposal.
The involvement of more people in the racket is being suspected, the police official said, adding that it could even be an international racket.
They have been charged under Section 454, Section 457 and Section 380 of the Indian Penal Code, the police official said.