Mario Adams, 27, of Hammonton, was charged with conspiracy to commit murder, murder and unlawful possession of a weapon.
Dontay Matthews, 21, of Elwood, is charged with conspiracy to commit murder and murder.
Additional charges will be sought for Rafael Olmo, 27, of Egg Harbor City, according to the Atlantic County prosecutor's office. He is currently in federal custody.
This is in connection with the death of 29-year-old Deanna Downs, whose body was found behind a building at the Harbor City Apartments located on Atlantic Avenue, where Downs lived.
Police say she died of a gunshot wound.
Bail was set at $1 million cash bail each for Adams and Olmo. Matthew's bail was set at $300,000 cash.