The couple, who already have a son aged six, are "overjoyed", said a statement from their publicists.
The babies are due to arrive "later this summer", while no further details of the surrogate mother or her pregnancy have been revealed.
Parker, 44, and 47-year-old Broderick have been married for almost 12 years.
The pair are "happily anticipating the birth of their twin daughters later this summer with the generous help of a surrogate," said the statement.
The first film made $415m (£281m) at the box office around the world.
Broderick's main credits are the Broadway and film productions of The Producers, and the comic movie Ferris Bueller's Day Off.