John Paul McShane from west Belfast died after the red Peugeot 406 estate car he was travelling in crashed on the Upper Springfield Road just after 8 am on Sunday.
The PSNI said no other vehicle was involved in the crash and Mr McShane was pronounced dead at the scene.
Several roads in the area were closed for much of the day as police as the PSNI’s Collision Investigation Unit carried out an examination of the scene.
The two men who were arrested are 20 and 21 and are being questioned about motoring offences.
They are currently being quizzed at Musgrave PSNI station.
Anyone with information about the crash is asked to contact police on 101.