Emergency crews were called to an apartment building on Bergamot Avenue, in the Islington Avenue and Rexdale Boulevard area, at around 1:40 a.m.
Police said they received reports that multiple people were stabbing.
Duty Insp. Kristy Smith said officers found two people with stab wounds who were pronounced dead inside of a unit in the building.
She said two people have been taken into custody in relation to the stabbing investigation.
Police also taped off a second scene at an Esso gas station nearby. Smith said one of the callers went to the gas station to call police.
The other 911 call was made from the apartment building, she said.
Toronto paramedics said they took a man to hospital with serious but non-life threatening injuries.
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