The victims, who are understood to be aged 17, lost their lives in Co Armagh.
They are understood to have been travelling to a college in the area at the time.
The accident happened just after 8 am on the Cladymilltown Road between Markethill and Newtownhamilton.
Fire and ambulance crews rushed to the scene after receiving 999 calls.
They included two rapid response paramedics, two accident and emergency crews and a doctor.
The road is currently closed while the PSNI’s Collision Investigation Unit examine the crash scene to determine how it was caused.