A Ford Focus and Audi A3, both travelling south, collided 1.5 miles north of Heriot at 7,25am.
One of the men was taken to Borders General Hospital and one to Edinburgh Royal Infirmary.
No details of their injuries were available.
The road was closed in both directions for more than three hours.
The incident came before the A7 Action Group were due to meet transport minister Humza Yousaf at Holyrood to call for the road to be upgraded.
The group, which includes local councillors, was formed 26 years ago to lobby for improvements on the 93-mile Edinburgh-Carlisle route, which passes through Galashiels.