A pizza delivery driver was allegedly forced to hand over cash to two masked men armed with hammers on Friday night, at around 10.15pm.
The incident happened in the area of Clifton Terrace, Douglas.
Following enquiries by officers from the Criminal Investigation Department and the Central Neighbourhood Policing Team, two men were charged with robbery the following evening (Saturday).
Detective Sergeant Paul Holland said: ‘We’d like to thank the public for their assistance. Officers have acted swiftly and there is no further threat to the community.’
Police are eager to trace anyone who was in the area at the time, especially a man who was walking his dog. Contact police on 631212, or Crimestoppers on 0800 555 111