The boys, aged 12 and 13, were seriously injured in the attack in Havant, Hampshire, on Friday and remain in hospital.
Richard Michael Walsh, 43, of no fixed address, has been charged with two counts of attempted murder and one count of assault.
He will appear before magistrates in Portsmouth on Monday, police said.
The attack happened shortly before 15:00 BST at the junction of Southleigh Road and Eastleigh Road.
Hampshire Constabulary said both boys were in a serious but stable condition at Southampton General Hospital.

Ashley Yates, 45, used a spy pen to record images of pupils and staff at The Tynings Primary School in Staple Hill, South Gloucestershire.
On Tuesday, at Bristol Crown Court, he admitted charges of making indecent images of children and voyeurism.
In a letter to parents the school said "additional adult victims have been identified" which the police confirmed.
On Tuesday the court heard Yates, of Filton, who is married with children, and had been in post as head at the school for eight years, filmed six girls, one boy and two members of staff.
It also heard Yates had handed over passwords to computers that would assist with the continuing police investigation.
A police spokesman said: "Enquiries are ongoing and we will not be commenting until sentencing."
But the letter to parents on the school's website says: "Police have confirmed that additional adult victims have been identified.
"These victims came to light after items were seized by police during the course of the investigation.
"The additional victims are all adult victims who have been contacted.
"They have also been offered support from police and the local authority.
"If any further victims are identified during the course of the investigation they will be notified immediately."
The school said it was working closely with the police and South Gloucestershire Council and would be disclosing as much information as possible without prejudicing the continuing legal proceedings.
In a letter to families, the acting head also thanked parents for their "patience and co-operation during this difficult time".
Yates has been remanded in custody until his next court hearing at Bristol Crown Court on 9 August.

Seal wardens on the National Trust (NT) reserve at Blakeney Point have recorded 180 more grey seal pups compared to this time last year.
Coastal ranger Ajay Tegala said the location is a "fantastic" breeding site as "human disturbance is minimal."
Mr Tegala predicts up to 1,800 pups could be born by the end of February.
"The seals like Blakeney Point as it has beaches and dunes which are safe and easy places to have a pup with no predators," he said.
Last year, 1,566 pups were counted during the four month breeding season at Blakeney Point, a split of shingle and sand jutting out into the North Sea.
Seals have been breeding on the site since about 2001, when just 25 were recorded.
Pup numbers reached over 1,000 for the first time during the 2012-13 breeding season, with newborns now increasing by about 25% year-on-year.
Blakeney has become well known for its seals with thousands of tourist taking boat trips to see the colonies each year.
Mr Tegala said: "We do a pup count twice a week and comparing this year to last year we're almost 200 ahead so it looks like the number will continue to increase and another record-breaking year is on the cards."
Source: BBC Nature
Visitors have been flocking to the north Norfolk coast to see the seals, prompting the NT to warn people to keep their distance and keep all dogs on leads.

Nóirín O'Sullivan welcomed the fact that new police recruitment had begun, but said policing is a profession that constantly needs new people.
She said 300 new recruits would keep the gardaí at a standstill.
She said over 500 new recruits every year were needed to ensure the force could deal with emerging crime trends.
Ms O'Sullivan was speaking at the annual conference of the Garda Superintendents in County Kildare.
The superintendents say they are under serious pressure to ensure they have sufficient officers to police the country on a 24-hour basis.
The Irish government recently announced new recruitment, however, the general secretary of the Superintendents' Association Denis Ferry, said the gardaí needed at least double the level to maintain current levels of service.
A man has been charged with the attempted murder of two children who were stabbed.
[NEXT_CONCEPT]
A head teacher who snooped on pupils and staff in his school toilets filmed more adults than first thought.
[NEXT_CONCEPT]
More than 900 seal pups have been born on a north Norfolk nature reserve in the last three weeks giving experts hopes of another record breaking year.
[NEXT_CONCEPT]
The commissioner of An Garda Síochána (Irish police) has said the force needs more than 500 new recruits a year to provide a proper service.