The man, age 24, and woman, age 23, who are believed to be friends, were "arrested on suspicion of preparing for acts of terrorism in the UK," the police said.
The man was arrested in Reading, where he lives, and the woman was arrested in the nearby town of Wokingham, where she lives, the West Midlands Police said in a posting on Twitter.
The two were arrested based on intelligence information at around 7.30 p.m. (2030 GMT), the police announced.
Reading is located about 66 kilometers (41 miles) west of London, while Wokingham is about 11 km (8.7 miles) southeast of Reading.
The West Midlands Police Counter Terrorism Unit made the arrests, assisted by the South East Counter Terrorism Unit, the West Midlands Police said on Facebook.
The West Midlands Police said the arrests were pre-planned and that the two people "did not pose any imminent threat."
The two, who were not identified, were arrested under terrorism legislation, which gives police "an initial 48 hours to charge, release or apply for a warrant of further detention," the West Midlands Police said.
The West Midlands Police could not be reached immediately for further comment.