Authorities received a call about the building on First St near Washington Ave. just before 6 am.
The building, which was previously a business but is currently vacant and boarded up, was completely engulfed in flames when fire crews arrived.
Flames could be seen shooting out of every part of the structure.
Firefighters had to cut through the metal bars on the windows of the building to pull the two people to safety.
Not long after that, the roof of the structure collapsed.
Fresno police blocked off both sides of First Street in the area for several hours.
Officials are currently investigating the cause of the fire.