The two, one of whom was a Form Five student at Dreketi High School and another, a Fiji National University student, were reported missing by their parents yesterday.
Senior police officers are currently cordoning the scene awaiting the official removal of the bodies.
The father of the Form Five student, Pastor James Nand said his son left their Dreketi home on Friday to spend the weekend at his friends home.
He said his friend’s mother called yesterday morning to inform him that they were both missing after they left their house in Tuatua in Labasa on Friday night.
“I notified police at Dreketi and also in Labasa and this morning I received a call when I was told of the tragic news,” Mr Nand said.
“This is really a sad day for me as I have lost my only son.”
Police spokeswoman Ana Naisoro said the bodies were discovered around 7.10am.
She said other relevant information would be released later in the day.