Cpl. George Cameron says search crews located the remains of one man outside a large area scattered with debris from one of the planes.
The body of the other man was discovered earlier in the wreckage.
The two Cessnas collided Sunday night east of Fort McMurray.
One plane landed safely at the Fort McMurray airport and the lone pilot was uninjured.
McMurray Aviation has identified the dead as flight instructor Nabeel Chaudhry, 33, of Edmonton and student Amjed Ahmed, 32, of Fort McMurray.
The company says both aircraft were allowed to be in the same air space but further details won't be released until the Transportation Safety Board concludes its investigation.
John Cottreau, spokesman for the TSB, says it's too early to say how and why the collision happened. One plane had left the airport and was on the way to a practice area; the other plane had come from a lake in northwestern Saskatchewan and was bound for the airport.