The men, aged 24 and 25, were arrested on Monday on suspicion of the murder of Jarvin Blake, from Gleadless, who was stabbed to death in Burngreave last week.
CRIME: Ambulances and stations broken into by thieves in South YorkshireThe two men, from Pitsmoor and Southey, were also arrested on suspicion of wounding, with the younger suspect also held on suspicion of perverting the course of justice.
POLICE: Woman dragged to ground and kicked by gang of women in Sheffield streetJarvin, aged 22, who had three children under the age of five, was stabbed at the junction of Brackley Street and Catherine Street at 3.20pm last Thursday.
APPEAL: Teenage boys hunted over robbery in SheffieldHe was rushed to hospital but could not be saved.
A 23-year-old man seriously injured in the same incident was discharged from hospital after treatment.
Detectives have not yet revealed the motive for the murder, but are treating it as a targeted attack.
Anyone with information about the murder should call South Yorkshire Police on 101 or Crimestoppers on 0800 555111.