Fire investigators said Rosana Acas, 36, and her daughter Grace were trapped inside the bedroom of their house on Block 205, Lot 14, Barangay Pembo.
The Makati Fire Department said the fire started at around 3:30 a.m.
The bodies of the mother and child were burned beyond recognition and were recovered only after the fire was put out two hours after it started.
The fire reportedly started from the house of one Reynaldo Dacanay on Cactus street.
Dacanay, his wife Mary, their daughter Mary Grace and another child suffered slight injuries.
Acas, probers said, was able to save two of her other children and came back for Grace, but they were trapped inside the bedroom.
Investigators have yet to determine the actual cause of the fire.