Michael Green and D.L. Rayford Jr. were arrested in December by investigators from the task force for regional auto theft prevention.
"Detectives obtained video footage of the vehicle and the suspects as the vehicle was being stolen," said Santa Monica police Sgt. Richard Lewis.
They're accused of taking part in a sophisticated auto-theft ring that targeted older model Mercedes and muscle cars.
Investigators say they recovered eight stolen vehicles, including Travolta's 1970 Mercedes-Benz 280SL. It was stolen outside a Jaguar dealership in Santa Monica in September.
Anyone with information on the case is urged to call (800) 78-CRIME.
The Associated Press contributed to this story.