The incident took place in el-Masaaed district in the restive Al-Arish city of North Sinai, security officials said.
Unidentified gunmen driving a car opened fire on the private vehicle which was carrying the policemen, they said.
The civilian driver of the vehicle was also killed.
Since the 2011 revolution that toppled then president Hosni Mubarak, Egypt's North Sinai, which is the base of a number of outlaw groups, became the centre stage of many violent attacks by gunmen.
Over 700 security personnel have been reported killed since then.
The military has launched security campaigns in the area, arrested suspects and demolished houses that belong to terrorists, including those facilitating tunnels leading to the Gaza Strip.
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