Dyfed Powys police alerted South & Mid Wales Cave Rescue Team at 7pm on Saturday about two overdue cavers in the Ogof Ffynnon Ddu system.
Initial search teams were quickly deployed, including South & Mid Wales Cave Rescue Team members and a couple of North Wales Cave Rescue Organisation members who were also on site.
Confirmation was received that the two cavers had been found safe and well at around 11pm.
The two cavers exited with one of the search teams.
A spokesperson for the South & Mid Wales Cave Rescue Team said: "As ever a big thankyou to all involved for their time and support of the team."