Counter-terrorism cops raided the teenagers' homes in Ramsgate, Kent, this morning.
Kent Police said the boys were held on suspicion of preparing for terrorist acts.
It is understood the allegations are linked to extreme far-right ideology.
Detective Superintendent Nigel Doak said: “I would like to reassure the local community that today’s arrests were pre-planned and intelligence-led, and there was no immediate threat to the public.
“We are committed to tackling any and all ideologies which pose a threat to the public’s safety and security.
"We treat the threat from the extreme right in exactly the same way as any other threat."
The raid was carried out by Counter Terrorism Policing South East, a combined group including several forces in South-East England.
A statement by Kent Police said: "The boys − both aged 15 and from Ramsgate, Kent – were arrested from their respective home addresses on suspicion of preparing for terrorist acts.
"They are being questioned at a police station in the South East after being detained under section 41 of the Terrorism Act."
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