The bodies are believed to be Joseph Orbeso, 21, of Lakewood and Rachel Nguyen, 20, of Westminster, sources told ABC affiliate KESQ.
They have been missing since July 28, when they were supposed to check out of their accommodations, but never did, and their vehicle was found in the northwest area of the park.
Extensive search efforts had been unable to locate them at the time.
Family members involved in the search believe the bodies are those of the missing hikers, but authorities have yet to issue an official confirmation.