Police say the incident occurred Sunday afternoon at a home in the Sheppard Avenue East and Neilson Road area.
The suspects tied up three people inside the home, including a three-year-old child.
One of the suspects was armed with a handgun.
They fled the scene with "a quantity of jewelry and cash," police said in a news release.
The day after the incident, neighbours who live on the same street were stunned to hear what had happened.
"I’m glad that they were not hurt," said Joshua Campbell, who lives near the house that was robbed.
Leonard Stewart, who lives across the street, said the incident had made him rethink some of his daily routines.
"I used to leave my door open by mistake. And now I’m making sure everything is locked," Stewart said.
Campbell said he had spoken with the victims, who told him they were eating when the men burst into their home.
Police said of the men was a six-foot-two white male, approximately 25 to 35 years old. He has a slim build and short, black hair. He was wearing a black baseball hat and a light-coloured, grey track suit.
The second man was also a white male of similar age, estimated to be between five-foot-three and five-foot-five. He wore a black ski mask during the incident.
Anyone with information is asked to contact investigators at 416-808-7350, or to call Crime Stoppers at 416-222-8477.