The babies were born several weeks ago, according to a statement from Martin's representatives.
"The children, delivered via gestational surrogacy, are healthy and already under Ricky's full-time care," said the statement.Martin will take time out from his schedule to look after the infants, it said.
"Ricky is elated to begin this new chapter in his life as a parent and will be spending the remainder of the year out of the public spotlight in order to spend time with his children."
A representative said there was no further information on the details of the children's birth.
Martin, 36, is a multiplatinum singer who is best known for English-language hits like "She Bangs!", "Shake Your Bon Bon" and "Livin' la Vida Loca."
In recent years, the Puerto Rican star has been active in charitable efforts, including the prevention of sexual exploitation of children.
Earlier this year, the singer travelled to Cambodia to bring light to the issue of human trafficking.
Martin rose to fame as an actor on American network ABC's General Hospital, but later turned his talents to singing.