The companies are installing special cameras in some parking lots that are equipped with automated license-plate readers.
The goal is to boost safety and more easily track down any thieves.
It's not yet known exactly which locations will have the cameras.
This comes after a string of crimes at Home Depot stores, including a theft ring that targeted stores in four Philadelphia-area counties last year.
However, civil rights groups are raising concerns about privacy rights.
"They can literally trace -- almost exactly -- where I've been just by connecting all of the different data points based upon that license plate number. I can find out where somebody lives just based upon tracking their data," said associate professor Tom Mattson, with the University of Richmond. "It can recreate my morning probably better than I can recreate my morning."
Both Home Depot and Lowe's tell ABC News they do not share any information with third parties.