Police were called to the scene of a single vehicle crash on Dotswood Rd at Dotswood, north of Charters Towers, about 1:45pm on Monday.
Officers and firefighters found the soldiers unconscious and trapped in the vehicle, and they later died at the scene.
The police forensic crash unit is investigating the accident.
Defence Minister Peter Dutton told federal parliament there were significant personnel and assets around the Lavarack Barracks in Townsville.
“It is a very dangerous task that our troops are involved in, even during training exercises, and the movement of equipment up and down our national highways,” Mr Dutton said.
“That’s very sad news for our country to learn and our condolences and thoughts are with their friends and family.”