Police and emergency workers responded to the scene at about 7:30 p.m. Saturday to discover two people had died near 72 Minot Avenue after being hit by the train.
According to the Plymouth County District Attorney's office, the preliminary investigation revealed that the deceased victims were a 33-year-old woman and a 36-year-old man, both from Wareham.
The victims are not being identified at this time.
Massachusetts State Police confirmed they were assisting with the scene, and an Airwing was also called in to help.
Investigators said the "Train to Christmas Town" had more than 300 people on board, most of them children. No passengers were injured.
According to the DA's office, the train conductor made attempts to stop the train and activated the emergency braking system before the collision occurred.
Children on the train weren't told of the incident, but instead were told the train had run out of "magic gas" and had to stop.
Police said the incident doesn't appear to be suspicious and is being investigated by the Massachusetts State Police, the Massachusetts Bay Transit Authority Police and the Wareham Police Department.
The Associated Press contributed to this report.