The men, 20 and 21-years-old, lost their bearings and burnt some of their clothing in a desperate attempt to draw attention to their plight.
They were spotted by a mountain rescue team and brought to safety on Tuesday evening.
They had set out on Sunday from Kühtai, wearing flimsy shoes, and with no mountain gear apart from a tent, a sleeping pad and some food, mountain police said.
They spent Sunday night in a deserted hut in Finstertal and on Monday they planned to continue their climb to Drei-Seen-Hütte, which lies at an altitude of 2,400 metres.
However, they made a wrong turn and at around 10:25 pm realized they were lost and made an emergency call.
A mountain rescue team eventually found them, despite heavy snowfall. They had reached 3,016 metres, under the Sulzkogel mountain.