Police said Sunday the two 15-year-old boys are held on suspicion of causing death by unsafe driving.
Police were called at around 10pm last night to Stonegate Road, in the Meanwood area of the city, after a stolen Renault Clio hit a tree.
A 12-year-old, two 15-year-olds, a 24-year-old and a 28-year-old died after the collision on Stonegate Road in the Meanwood area of Leeds on Saturday night, said West Yorkshire Police.
The families of the deceased have been informed, according to investigators.
"Whether they were all in the vehicle or whether some of [the victims] were pedestrians we can't say at this point in time".
Five males killed in horror vehicle crash in Leeds
The road now remains closed and the West Yorkshire Police major collision enquiry team are conducting an investigation into the exact cause of the collision.
It is believed the auto was travelling south down Stonegate Road when it hit into a tree just after turning on Parkside Avenue.
Detective Chief Inspector Jim Griffiths is leading the investigation.
Cops described the scene as "complete carnage" and have cordoned-off the street to investigate how the collision happened. Road now closed in both directions between Stainbeck Lane and Stainbeck Avenue.