The two-vehicle collision involved a van from luxury resort and village Millbrook and a car.
Arrowtown Volunteer Fire Brigade Chief Fire Officer Murray Forward confirmed the deaths yesterday.
The crash happened in Malaghans Rd in Dalefield, which remained closed between Dalefield Rd and Hunter Rd until about noon yesterday.
A police spokesman said emergency services were alerted about 10pm on Thursday and found two people dead at the scene.
"Our crews assessed and treated one patient in a moderate condition and four patients in a minor condition. All were transported to Lakes District Hospital by road."
Millbrook operations manager Brian Howie confirmed a Millbrook van was involved in the crash and that no-one inside the van died in the crash. He declined to comment further.
Police said the serious crash unit had conducted a scene examination and inquiries were continuing.
Fire and Emergency New Zealand crews from Arrowtown, Frankton and Queenstown also attended.