The three people who were murdered in the attack in the city of Elad were identified on Thursday night.
One of the victims is Yonatan Havakuk, a father of five children and a well-known figure in the city.
A second victim has been identified as Boaz Gol, a resident of Elad in his 40s, and also a father of five children.
The third victim is Oren Ben Yiftach, 35, a resident of the city of Lod and a father of six.
Three people were seriously injured in the attack.
Yonatan left his house on Thursday evening and headed towards the municipal park, where he encountered terrorists who murdered him in cold blood. Rescue and emergency services were called to the scene but had no choice but to pronounce him dead.
Police believe that the terrorists who carried out the attack are Palestinian Arab terrorists who may flee to Palestinian Authority-assigned areas of Judea and Samaria.
"We are currently in pursuit of two terrorists, who are believed to have fled the scene," police said. "We have special police forces in the field, Shin Bet forces, helicopters, and other combat units. According to estimates, the terrorists are still in the area and we are doing everything to apprehend them."