According to authorities, the two suspects, aged 28 and 32, were arrested at different hospitals where they sought treatment for wounds received during the attempted heist.
One suspect was arrested at Cité de la Santé Hospital in Laval and the other was apprehended at the Maisonneuve-Rosemont Hospital.
Both men are known to police.
Three employees of a jewelry store were stabbed during a botched robbery at Bijouterie Prince on the corner of Querbes Avenue and Saint-Roch Street around 1:30 p.m. Tuesday.
Investigators had blocked of a section of Saint-Roch Street between Querbes and de l'Épée Avenues.
One male employee suffered serious stab wounds while two others sustained minor injuries in the attack.
Authorities expect all victims will recover from their injuries.
Witnesses say they saw two suspects flee the scene in a get-away car.
They said the owners of the store are very well known and liked in Montreal's Indian community.
Authorities say the suspects did not get away with any valuables.