The official Middle East News Agency said the clashes had erupted between the Libyan army and Islamist militias on a road leading up to the Ras Ajdir crossing on the border with Tunisia.
It said the bodies of the two victims were later taken to a state-run hospital in the area.
The agency, meanwhile, quoted Adel Hadura, a spokesman for Egyptian expatriates in Libya, as describing the condition of the four wounded victims as "critical."
He said the dead and wounded victims worked at a quarry near the border crossing point.
Libya has been dogged by political instability since the 2011 ouster and death of long-ruling strongman Muammar Gaddafi.
In the more than three years since, rival militias have frequently locked horns, often bringing violence to the country's main cities, including capital Tripoli.