Both officers were unarmed during the police operation in Tameside, when the 29-year-old murder suspect, Dale Cregan, fired at them, Greater Manchester police officials told Xinhua.
An explosion and 13 gunshots were heard, witnesses said.
One of the officers died immediately, while the other was sent to hospital but doctors failed to save her life.
"This is a heartbreaking time for the officers' families and colleagues, and our thoughts are with them," said Assistant Chief Constable Garry Shewan.
Cregan was later arrested when he walked into a police station in Tameside.