The two hunters were accompanied by their dogs and tracking an elk when a bear attacked in the Jämtland region north west of the capital Stockholm.
The men were helicoptered to hospital but their condition is not yet known, according to a police spokesman.
Police were looking for the bear, he added.
It is the second bear attack in a week. The previous attack was fatal, with the hunter dying of his injuries. The bear in that case was later put down.