They were allegedly attacked by three teens at a skatepark in Redcliffe, Brisbane, and the boy was allegedly stabbed in the chest.
The teenager, who has been identified as Angus Beaumont, later died in Redcliffe Hospital.
Two 14-year-old boys were charged with one count each of a murder and one of attempted armed robbery.
The two boys were from Kingston and Logan Central in the middle of Brisbane.
Police are looking for the third person allegedly involved in the stabbing.
The incident occurred about 8.10pm and police are seeking dashcam footage of Anzac and Oxley avenues between 7pm and 9pm on Friday.
Detective Senior-Sergeant Michael Hogan said the three alleged attackers were captured on CCTV fleeing the scene.
One of those males split from the group, while the other two were seen doubling on a bike in the Redcliffe area some time later.