The soldiers killed, said to be a man and a woman, were reportedly shot dead on the Israeli-Egyptian border and found dead at a sentry. It writes both the Jerusalem Post and the Times of Israel, citing the military.
The incident is described as a "security incident" and, according to the defense force, there was another exchange of gunfire in the area hours later, also on Israeli territory. An armed man was then reportedly killed.
Further details and possible motive are not known.
According to Arab media, the man was dressed as an Egyptian border guard. According to Al-Arabiya, however, the two countries' security forces have cooperated in the incident, reports the Jerusalem Post.
Israel's prime minister has been informed, according to the newspapers.