The crash happened just after 11 p.m. at Walnut and Riverside avenues, according to Sgt. Daniel Smith with the Rialto Police Department.
Police said the toddlers were riding in a white Honda Accord with their parents.
The driver of the Accord made a left turn onto Walnut when the suspect, who was driving a Dodge Ram pickup truck heading south on Riverside, ran a red light and struck the Accord, police said. The impact of the collision sent the car careening into a tow truck, Smith said.
The two girls died at the scene. Police said they were both in car seats but one of them was ejected from the vehicle.
The father of the girls was hospitalized with moderate injuries and the mother was unharmed.
Police said the suspect, identified as 28-year-old Alexis Garcia of San Bernardino, fled the scene but was later found. He had a passenger in his truck but that person was not injured or taken into custody.
Garcia was arrested on two counts of murder, one count of DUI and one count of felony hit-and-run. Police said he was released from the hospital and will be booked into West Valley Detention Center.
The incident remains under investigation.
This is a developing story. This article will continue to be updated as more information becomes available.