The pair, a 51-year-old Italian and a 33-year-old Lithuanian, both living in Cavallino Treporti in Veneto, had been missing since Saturday after heading our for a snow shoe hike on the Sasso Nero.
Their hotelier sounded the alarm when they failed to return.
Carabinieri police, finance police, mountain rescue and helicopter rescue teams were on site.
The rescue operation follows the recovery of the bodies of two young women, killed last Sunday in an avalanche in mountains near to the Aosta Valley town of Courmayeur.
Two other members of the group aged between 21 and 25, that were skiing off-piste, survived the avalanche
ANSA