The deceased were identified as Lieutenant Commander Pranav Likithi and sailor G S Sen, according to a release by the Eastern Naval Command.
Two other crew members had been rescued earlier and are recuperating at Naval hospital INHS Kalyani.
The Chetak 440 helicopter crashed into the sea about 10 nautical miles off Visakhapatnam coast on Tuesday afternoon, soon after it took off from INS Dega at about 2 p.M. On a routine mission.
The bodies were retrieved in the early hours today by the joint rescue teams.
Soon after the crash, an extensive search and rescue operation was launched from the sea and air by the Navy, along with the Coast Guard, Port authorities and Marine Police.
The Navy had already ordered a Board of Inquiry to establish the cause of the accident.
A multi-purpose offshore chartered vessel 'Olympic Canyon' was also roped in with its Remote Operating Vehicle for the salvaging operations.
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