The offending officers, who went on leave on Sunday, have not been identified.
“Videos taken during Friday's arrests showed that the two officers used pepper spray on peacefully seated students,” the university announced in a news release.
On Friday, police officers violently confronted anti-corporatism protesters camping on the UC Davis campus, spraying the chemical irritant on students that were sitting on the ground and arresting 10 of them.
Many UC Davis alumni, staff, students, and faculty expressed outrage over the incident.
On Saturday, the Faculty Association of UC Davis issued a statement accusing University Chancellor Linda Katehi of “a gross failure of leadership” and calling for her resignation.
Katehi has resisted the calls so far, pledging instead to rigorously probe the incident.
The demonstration was being held in solidarity with the worldwide Occupy movements that began in September after a group of people gathered in New York's financial district with the motto of "Occupy Wall Street" to protest "corporate greed," corruption, poverty, and social and economic inequality in the US.