He has been with Disney since 1981 and was reportedly suspended from work late Friday.
According to reports, the first girl was victimised at 15, while the other was between 11-15 years old.
In an interview to Variety, Disney's spokesperson said, "Immediately upon learning of this situation tonight, he has been suspended without pay until the matter is resolved by the courts."
However, Heely's lawyer Robert Helfend denied all the charges against his client, saying, "He vehemently denies these allegations and we will be fighting until the end to clear his name."
"It's a shame, that's all I've got to say," he added.
The charges follow his arrest on November 16.
He also produced a series of Disney concerts around the world, such as Fantasia Live in Concert. (ANI)