We present two new luminous blue variable ( LBV ) candidate stars discovered in the M 33 galaxy . We identified these stars ( Valeev et al . ( 1 ) ) as massive star candidates at the final stages of evolution , presumably with a notable interstellar extinction . The candidates were selected from the Massey et al . catalog ( 2 ) based on the following criteria : emission in H \alpha , V < 18 . ^ { m } 5 and 0 \hbox { $ . ^ { m } $ } 35 < ( B - V ) < 1 \hbox { $ . ^ { m } $ } 2 . The spectra of both stars reveal a broad and strong H \alpha emission with extended wings ( 770 and 1000 km s ^ { -1 } ) . Based on the spectra we estimated the main parameters of the stars . Object N 45901 has a bolometric luminosity \log ( L/L _ { \hbox { $ \odot$ } } ) = 6.0 – 6.2 with the value of interstellar extinction A _ { V } = 2.3 \pm 0.1 . The temperature of the star ’ s photosphere is estimated as T _ { \star } \sim 13000 - 15000 K , its probable mass on the Zero Age Main Sequence is M \sim 60–80 M _ { \hbox { $ \odot$ } } . The infrared excess in N 45901 corresponds to the emission of warm dust with the temperature T _ { \mbox { warm } } \sim 1000 K , and amounts to 0.1 % of the bolometric luminosity . A comparison of stellar magnitude estimates from different catalogs points to the probable variability of the object N 45901 . Bolometric luminosity of the second object , N 125093 , is \log ( L/L _ { \hbox { $ \odot$ } } ) = 6.3 – 6.6 , the value of interstellar extinction is A _ { V } = 2.75 \pm 0.15 . We estimate its photosphere ’ s temperature as T _ { \star } \sim 13000 - 16000 K , the initial mass as M \sim 90-120 M \odot . The infrared excess in N 125093 amounts to 5–6 % of the bolometric luminosity . Its spectral energy distribution reveals two thermal components with the temperatures T _ { \mbox { warm } } \sim 1000 K and T _ { \mbox { cold } } \sim 480 K. The [ Ca II ] \lambda \lambda 7291 , 7323 lines , observed in LBV-like stars Var A and N 93351 in M 33 are also present in the spectrum of N 125093 . These lines indicate relatively recent gas eruptions and dust activity linked with them . High bolometric luminosity of these stars and broad H \alpha emissions allow classifying the studied objects as LBV candidates .