Video images showed at least 10 marked and unmarked police vehicles at a barn near the small town of Susteren, 30 kilometres (18 miles) north of Maastricht, while a police helicopter was circling overhead.
Some police officers could be seen wearing balaclavas.
An employee at a nearby car dealership, who asked not to be named, told AFP "there is a lot of police here and they have closed off the area."
National Dutch news agency ANP reported that a robot device was being used by the Dutch explosives clearance unit, while at least one of the two people arrested were instructed to remove their clothes, according to witnesses.
Police and the public prosecutors' office were not immediately available for comment.
One of the key suspects in the terror attacks is Salah Abdeslam, 26, against whom an international arrest warrant has been issued by French police, who have described him as "dangerous".
Belgian media described him as "public enemy number one".
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