This comes after a video circulating on social media showed a girl of about 12-14 years-old receiving multiple kicks and punches to her head and body near Splash Palace over the weekend.
Police said the girl was "seriously beaten".
Along with announcing the arrests, police today warned that sharing offensive material is prohibited and encouraged anyone in possession of the video to delete it.
Police said the two people were arrested over the last two days and were facing charges over the incident.
"We would like to acknowledge the great work of the Invercargill police and the members of the public who assisted us with our enquiries.
Community Constable Reuben Boniface earlier this week said the victim was attacked in a "couple of different places" around Splash Palace.
These included the Southland Girls' High School field.
After feedback from the community, police were able to identify the victim, who sent a statement of complaint.
"She [has been] traumatised with the incident. However, she is coping well," Const Boniface said.
