The men were detained in the Aspen Walk area of Dunmurry.
The arrests were made after a 41-year-old man was shot in the leg in the area of Glasvey Drive just before midnight last night.
He was taken to the Royal Victoria Hospital for treatment to a gunshot wound to his leg.
Doctors describe his condition as “serious”.
During a follow up inquiry, armed response police located two suspects with the aid of the PSNI’s helicopter.
Two men, aged 25 and 35, were arrested for attempted murder.
They are currently being held at the serious crime suite in Musgrave PSNI station in Belfast.
The house at Aspen Walk where they were found is being searched for firearms, ammunition and clothing.
Detective Inspector Martin Cummings said: “A motive for this attack has not yet been established.
“I would appeal to anyone who witnessed the incident or anyone with any information that would assist with our investigation to contact Detectives in Lisburn Police Station on 101.
“Information can also be passed anonymously via the independent charity Crimestoppers on 0800 555 111.”