Local newspaper Sur reported that the duo leapt to the aid of a middle-aged woman when a 35-year-old man pushed her in the back and tried to steal her phone.
She had been taking a photograph of the 18th century Puente Nuevo (new bridge), the town's main attraction, and found herself struggling with her assailant.
Her shouts alerted the Taiwanese men, one of whom grabbed the mugger and immediately immobilized him using a martial arts submission hold.
His compatriot helped restrain the would-be thief until the local police arrived a few minutes later.
The mugger, who is reported to be a resident of the picturesque Andalucian town, located in the province of Malaga, was charged with the crime of robbery with violence.
The incident was said to have caused a great deal of commotion in the area which is visited by hundreds of tourists every day.