Another Border Security Force trooper was seriously injured in the attack. The dead were identified as Deputy Commandant Sunil Behera and Sibasish Panda.
The explosion occurred when a motorbike the three were riding ran over a landmine in Kaliajhula forests, Koraput Superintendent of Police Charan Singh Meena told IANS.
Operations have been launched to track down the Maoists, said Meena, who is here to attend the annual conference of senior police officers.
The explosion occurred a few kilometres from where a businessman was shot dead by Maoists on Thursday night.
Maoists are observing a two-day 'bandh' in Nuapada, Malkangiri and Kalahandi districts from Friday to protest against 'Operation Greenhunt', a joint operation by security forces against Maoists.