Mr Barker was last seen in Campbell Town on the night of August 2, 2009. His body was found inside his home the next morning with a number of gunshot wounds.

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Police arrested the pair accused of Mr Barker's murder at a Swansea property on Monday morning.

They will appear before the Hobart Magistrates Court this afternoon.

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Acting Assistant Commissioner Ian Whish-Wilson said the arrest was the culmination of a lengthy investigation by the Serious Organised Crime Division.

"The investigation has been complex and a team of dedicated investigators have worked tirelessly to ensure the family of Mr Barker, have confidence that Tasmania Police has conducted a thorough and exhaustive inquiry," the acting assistant commissioner said.

Police have maintained close contact with Mr Barker's family during the investigation.

"I would like to thank the investigation team for their commitment to this case. Their determination to bring those allegedly responsible for Mr Barker's death to justice is commendable," said Acting Assistant Commissioner Whish-Wilson.

"As the matter is now before the court, we're unable to make any further comment."