Officials say 26-year-old Jose Joya-Flores Jr. and Julius Joya-Flores were involved in the death of 21-year-old Jordan Terrell Love.
Around 12:20 am, officers were called out to a stabbing that had happened near B Street and Cemetery Road.
When officers arrived, they found 21-year-old Love suffering from multiple stab wounds.
He was rushed to a local hospital, where he later died.
Officers say they learned that Love had been involved in two altercations leading up to the stabbing.
A second person was hit in the head during the incident but is expected to be okay.
Investigators say Jose and Julius were arrested outside a home in Merced on Thursday morning.
Both suspects were booked into the Merced County Jail on charges of murder and assault with a deadly weapon.
Anyone with information about this stabbing is asked to call Detective Christian Lupian at (209) 388-7844.