Kishan Kumar (11) and Om Prakash (13) were returning from Bankatwa forest range after grazing their cattle, when the leopard attacked them, they said.
Hearing their cries, villagers rushed to rescue them and the leopard fled.
The children have been rushed to hospital, where their condition was stated to be serious.
Divisional Forest Officer (DFO) Gyan Prakash Singh said that teams of the department have been deployed to catch the leopard, addinng that villagers have been advised not to venture into the forest areas.