The pair were arrested near to St Andrews Quay in Hull during the early hours of yesterday.
It followed reports that a car had been stolen on York Road in the city just before midnight on Tuesday, January 15.
A 20-year-old man from Hull has now been charged with driving a stolen car and driving without insurance, Humberside Police said.
Officers have also charged a 19-year-old man from Hull with being in a car that he knew was stolen.
A 22-year-old man arrested in connection with this incident has been released with no further action taken.
The charged men are due to appear before Hull Magistrates' Court in February.