Police were called to the home on the 14000 block Crystal Circle around 1 p.m. They found two people who had apparently been shot and killed in the home and one suspect in the scene.
A man at the scene was taken into custody. He was later identified as Nolan Pascal Pillay, 37. His relationship to the victims and their relationship to each other was not immediately known.
Witnesses reported hearing someone yelling "I'm sorry, I'm sorry" at the time of the shooting.
Police say a gun was found inside the home.
A nearby school was placed on lockdown but police said there was no danger to children.
Irvine is considered one of the safest cities in the United States for its size, with one of the lowest rates of violent crime per 100,000 residents in the country.