Police say that the incident happened while the boy was walking along Sullington Mead, Broadbridge Heath, at around 8.10am on Tuesday (November 23).
Officers say that the two men got out of a red three-door car before chasing after the boy.
A spokesman said: “He was able to make it to a place of safety.
“The victim and his family are receiving support from officers while enquiries are ongoing.
“The first suspect is white, around 19-years-old, short brown hair with stubble and was wearing a green hoodie.
“The second suspect is also a white, around 19-years-old with short spikey brown hair and was wearing a red T-shirt.
“Anyone who saw what happened or who may have any information which can help officers with their investigation is asked to report it online or call 101 quoting serial number 336 of 23/11.”