William Cooper 31, of Branch Village in Camden and Rashawn Carter, 24, of the 800 block of East Tioga in Philadelphia are charged with murder.
Police say Cooper was the gunman who shot Oscar Hernandez once in the chest during a robbery at Alex's Bakery on Ferry Avenue on October 14th. Hernandez was the bakery owner.
Police said the suspects left after they were unable to open the cash register.
A third suspect remains at large in the killing.
Both Cooper and Carter were arrested around 9 p.m. Thursday at a home on the 1500 block of South 7th Street in Camden. They were taken into custody without incident.
Police said information received from witnesses led to the arrests.
Both Carter and Cooper were ordered held on $1 million bail.
A $1,000 reward is still available for information leading to the remaining suspect's arrest and conviction. Anyone with information is asked to call the Crime Commission at (215) 546-TIPS.