It happened near the parade route for the Super Bowl winners, who captured their second NFL title in eight seasons last Sunday, dominating the two-time-defending champions Kansas City Chiefs 40-22 at the Superdome in New Orleans.
Police said a 27-year-old woman was shot in her left leg and a 20-year-old woman was shot in her upper left thigh along Benjamin Franklin Parkway.
Along the parade route, supporters could be seen hanging out of windows, on top of light poles and trees and standing on top of vehicles to see the players travelling on open-top buses.
Police deputy commissioner Frank Vanore said the two women were shot by a suspect wearing an Eagles shirt after an argument, according to local media.
Two women have been shot during victory celebrations in Philadelphia for the city's Super Bowl champions.