The newborns, Victoria and Ysabel, were delivered in West Palm Beach, Florida and mother and babies are said to be doing well.
A representative for Michael announced the happy news on Tuesday in a statement released to the Associated Press.
"Yvette Jordan and the babies are doing well and the family is overjoyed at their arrival," spokeswoman Estee Portnoy said of the February 9 births.
Michael, 50, and his second wife Yvette, 35, had been married for less than a year when they announced that they were starting a family.
The couple tied the knot in a lavish ceremony last April, which was attended by 300 guests including Tiger Woods, singers Usher and Robin Thicke, and director Spike Lee.
Michael asked Yvette to marry him over Christmas in 2011. They had been dating for three years after meeting in a Miami nightclub.
The basketball icon is already father to three children from his first marriage to Juanita Vanoy, whom he divorced in 2006 after 16 years of marriage. Marcus, Jasmine and Jeffrey are all in their 20s.