Former model Porter, 36, delivered two healthy babies, one weighing five pounds and the other five pounds, four ounces, at 7:56 a.m. (local time) at Mount Sinai hospital in New York City.
The rapper halted filming on the movie adaptation of the play Raisin in the Sun in Toronto to dash to New York for the birth.
"The beautiful, healthy baby girls were born this morning with Diddy by mother Kim Porter's side. Diddy had a plane on standby in Toronto where he is filming Raisin in the Sun and made it just in the nick of time for the delivery. Both Kim and the girls are doing great."
The couple, who originally dated in the mid-1990s before reuniting again in 2003, also have 10-year-old son Christian together.
Porter is also mom to son Quincy, from her relationship with singer Al B., while Combs has a 13-year-old son, Justin, whose mother is his ex, stylist Misa Hylton-Brim.
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