Diogo Jota, a striker for Liverpool, and Andre Silva, an attacking midfielder for Penafiel, lost their lives in a car accident in Zamora.
According to reports, a tyre blow-out forced their Lamborghini off the road, resulting in the tragic loss of life.
Joaquim Evangelista, the president of the Portuguese Players Union, released a statement expressing his shock and devastation at the news.
"I have no words to describe how sad I feel knowing that Diogo and Andre left us in such a tragic way," he said.
"They were not only incredibly talented footballers but also kind and humble individuals who inspired us all," he added.
"We must honor their legacy by following their example of kindness and compassion," Evangelista said, offering his condolences to the families and loved ones of the two young men.
"Rest in peace, Diogo and Andre," he concluded, acknowledging the impact of their loss on the football community and Portugal as a whole.