The victims, aged 45 and 40, were climbing the Piz Roseg from the Tschierva Hut on Sunday morning were seen climbing the mountain's northeast wall by three Italian climbers, Graubünden cantonal police said.
The Italians later saw the pair had fallen to an altitude of around 3,000 metres and alerted mountain rescue officials, police said in a news release.
When help arrived the Germans were found to be dead, the release said.
Meanwhile, a 37-year-old German woman was seriously injured on Sunday morning after falling 100 metres down a rocky hillside in the Samedan area.
She had been climbing with a colleague toward the Piz Bernina, also from the Tschierva Hut, but the pair turned back when the weather worsened, police said.
The Rega emergency rescue service flew the woman by helicopter to the Samedan hospital before transferring her to the Graubünden cantonal hospital in Chur.
Another rescue team plucked two Italian climbers to safety on the Piz Palu after they contacted emergency services after getting into trouble while descending the mountain.
Poor weather prevented an immediate evacuation but by 7pm a helicopter from Heli Bernina was able to pull the climbers unhurt to safety, police said.