The attack happened in the stairwell at Martin Van Buren High School on Hillside Avenue.
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One student was stabbed in the stomach and shoulder and the other only in the shoulder.
Neither suffered life-threatening injuries, but both were taken to Long Island Jewish Medical Center where they were stable.
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A 17-year-old boy was charged with criminal possession of a weapon, according to police. Another 17-year-old has been charged with gang assault.
Authorities say one of the victims is one of the teens who has been charged.
Two other people of interest are in custody.
Martin Van Buren High School was set to have portable scanners for Friday's school day after Thursday's stabbing incident.
On Thursday, the school was locked down after the stabbing and the Department of Education released the following statement:
"The safety and wellbeing of our students is our absolute top priority. NYPD immediately responded to an incident at the school. Students were placed on a brief soft lockdown and have now been dismissed. We will be providing additional emotional support to any student who needs it."
A kitchen knife was also recovered at the scene.
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