It's believed the two suspects - who are thought to be Palestinian - were armed with knives and axes.
They've since been shot dead.
November incidents:
6 Nov: Two killed in Jerusalem van attack
8 Nov: Police shoot an Israeli Arab after attempted knife attack
10 Nov: Two Israelis stabbed to death
11 Nov: Palestinian being shot dead following protests
17 Nov: Palestinian bus driver found hanged in Jerusalem
Six other people have been injured, including two police officers.
The incident happened at around 7am local time at Kehilot Yaakov synagogue in Har Nof neighbourhood.
US Secretary of State John Kerry has condemned the attack as 'an act of pure terror'.
Paul Calvert, Christian journalist in Jerusalem said: "We've had people driving cars into bus stands, train stands and there's a sense that things are beginning to ratchet up.
"The biggest problem for Israel is intelligence - you don't know this is going to happen.
"The Bible says 'pray for the peace of Jerusalem' and think that's even more necessary now than ever before. We need to see peace, we need to see calm."
The Vicar of Baghdad, Canon Andrew White, who's spending some time in Israel has spoken of his concern of the escalating violence.
He said: "I think the increased violence in Israel, the tension between Israel and Palestine is very serious.
"Things are not good and things could get worse.
"My prayer for the entire region is that they may know that God loves them...that God is love and his spirit is with them.
"He's not left them alone and soon and very soon he is coming back."
Israeli Prime Minister Benjamin Netanyahu says he will respond with a heavy hand to what's been described as the deadliest attack in Jerusalem in six years.
The incident is the latest in a number of spates of violence.
Hear Paul Calvert speaking to Premier's Marcus Jones:
Listen to a full interview with Canon Andrew White here: