One of the fragments is estimated to be 78ft (24m) in size, with the other being smaller at 15ft (5m).
The Australian government released the pictures that were taken by one of their satellites on March 16.
The debris was spotted at about 1,500 miles southwest of Perth, in one of the remotest parts of the planet.
Australian Prime Minister Tony Abbott has said that this new development is 'credible and potentially important.'
However, it could take two days to now find the objects and confirm exactly what they are, and there is speculation that because the images were from March 16, the fragments could have now moved or sunk.
A retired US Federal Aviation Administration Official, Michael Daniel, suggested that one of the first things the search party would do is to drop sonar buoys in the water - which could pick up the signals from the black box if it is near-by.
Despite being 'off the coast of Australia' the distance from Perth to the object's location is equivalent to London to Moscow, meaning that search planes can only spend a limited time there before having to return to Australia to refuel.
Visibility is currently poor in the era, which is hampering both satellite and plane efforts to spot the debris.
The water in the search area can be upto 16,400 ft deep, which will make recovery of the objects even more tricky.
Yesterday family members were dragged from the daily press conference as tensions mounted over the missing aircraft.
Many family members feel that Malaysian Airlines are hiding information about the last known location of the plane, and emotions are understandably running high as they await news of their loved ones.
Flight MH370 dissapeared en route to Beijing on March 8. There have been no confirmed sightings of the aircraft since.
Five nations are currently involved in the search effort to find the missing plane - Australia, New Zealand, the U.K., Malaysia and the U.S.