On Friday, Lisle police were called to a home in the 1900 block of Matson Lane.
The homeowner said a person he knew was in the house, armed with a knife. He is the father of the two victims and said he discovered them covered in blood, according to police.
A female suspect was arrested after being found at the home, Lisle police said.
The two children were taken to a hospital in stable condition and treated for stab wounds, police said.
Charges have not yet been filed as the investigation continues.