A further two people are continuing to receive hospital treatment and two children remain under observation, police said in an update this afternoon.
North Yorkshire Police said enquiries were continuing into the circumstances surrounding the fatal collision on the outskirts of Thirsk.
It happened on the A61 between Busby Stoop and Carlton Miniott at around 9.25pm yesterday.
It involved a green VW Bora and a black Ford Focus that was heading in the opposite direction towards Thirsk.
Two 17-year-old boys, rear seat passengers in the VW Bora, were pronounced dead at the scene by paramedics.
They were earlier named locally as Mason Pearson and George Turner, but police are yet to confirm their identities.
A police spokesman said: "We are not yet in a position to confirm the identity of the two boys who died in the collision.
"We request that their families’ privacy is respected at this extremely difficult time."
Another two passengers in the same vehicle, an 18-year-old man and a 17-year-old boy, are in a critical condition at James Cook University Hospital in Middlesbrough and Leeds General infirmary respectively.
The driver of the VW Bora, a 22-year-old man, is receiving treatment at James Cook University Hospital for non-life-threatening injuries.
All the occupants in the VW Bora are from the Thirsk area.
Meanwhile, the driver of the Ford Focus, a 27-year-old man from outside the area, was discharged from James Cook University Hospital following treatment.
A passenger in his car, a 24-year-old woman, is receiving treatment at the hospital.
Medics have also kept a three-year-old girl and a six-month old boy in hospital for observations as a precaution.
In total, there were seven land ambulances, an air ambulance and coastguard rescue helicopter in attendance at the incident, along with police and fire crews.
The scene remained closed to traffic until 4.45am while the police investigated the circumstances of the collision and to allow the vehicles to be safely recovered.
The spokesman said: "Officers are continuing to appeal for people to come forward to assist the investigation, including witnesses to the actual collision, anyone who recalls seeing any of the vehicles involved prior to the incident, and anyone who may have dash-cam footage that could help with enquiries."
Anyone with information is urged to email [email protected] or call 101, select option 2, and ask for the Major Collision Investigation Team.
Please quote reference number 12180039673 when providing details about this incident.