After threatening security staff with power tools, they punched their way through multiple display cabinets and made off with eight pieces known as the French Crown Jewels.
One of the thieves can be seen using both arms to smash a cabinet before reaching through the shattered glass to pull out gems, stashing them in his vest pocket.
He is also seen wrenching a jewelled tiara from a stand and adding it to his haul.
Although several museum staff were in the gallery at the time, Louvre management said employees are trained not to approach thieves and instead focus on evacuating visitors.
CBS News reported a staff member was seen directing guests through the gallery while holding a bollard.
The two suspected thieves carried out the heist in around eight minutes, and were later arrested with two other suspects.
None of the jewels have been recovered, except the Crown of Empress Eugenie, which the thieves dropped on the street during their escape.
The October 19 heist embarrassed the prestigious museum, after a security audit revealed 35% of the rooms in the wing where the jewels were kept were not monitored by security cameras.
The jewels, which include emerald and sapphire earrings and necklaces, were also not privately insured, in line with French law.
The new footage, together with DNA evidence gathered at the scene, now forms the basis of the investigation into the theft.
Metal bars were installed over the windows of the Apollo Gallery last month.
The museum announced last week foreign tourists would be required to pay a $64 entry fee, attracting some controversy.
Trade unions at the Louvre blasted the policy as “shocking philosophically, socially and on a human level”, calling for strike action protest.
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