The militants belonging to the banned Tehreek-i-Taliban Pakistan (TTP) outfit were arrested from Sohrab Goth's Janjal Goth locality.
"The militants were arrested from Janjal Goth locality near Sohrab Goth," said Qamar Ahmed, Deputy Superintendent of Police.
They were wanted for involvement in several terror incidents, target killings and attacks on Rangers and police personnel.
The two militants were identified as Azeem Mehsud and Munawwar Mehsud and were part of a 50-member gang which was involved in terror activities and fund collection for the TTP.
Looted cash, arms and ammunition were also recovered from the possession of the arrested militants, he added.
Pakistan security forces launched operation Khyber 1 in volatile Khyber Agency in early October against militants linked with the Taliban beside Zarb-i-Azb, another operation launched on June 15 following a militant attack on Karachi's international airport.
The army has intensified its offencive against Taliban after the group massacred 150 people, mostly children, in a horrific attack on an army-run school in Peshawar last month.
So far, 20 prisoners have been executed. There are more than 8,000 death row prisoners in the country.
