Jenna Bush was cited for misrepresenting her age as she tried to buy alcohol.
Her sister Barbara was cited for possession of alcohol by a minor, Austin police said in a statement.
Both women are 19. Texas law prohibits anyone under 21 from buying or drinking alcohol.
Mr Bush's daughters could face a maximum fine of $500, attendance at an alcohol awareness course, community service and 30-day driver's licence suspension.
If convicted, Jenna Bush could lose her licence for up to 90 days because it would be a second offence, according to the Texas Alcoholic Beverage Commission.
The incident, at Chuy's restaurant in a fashionable area of Austin, comes only two weeks after Jenna was ordered on an alcohol awareness course after police found her drinking beer in an Austin bar.
White House spokesman Ari Fleischer declined to comment on the incident, saying it was a "private family matter".
Strictly enforced
BBC correspondent Nick Bryant says underage drinking laws are strictly enforced in the US, but fun-loving college students habitually try to break them.
Earlier in May Jenna had pleaded no contest to the charge of being a minor in possession of alcohol after being found drinking beer in an Austin bar.
She was ordered to perform eight hours of community service as well as being sent on a six-hour course to learn about alcohol abuse.
Jenna is a first-year student at the University of Texas, while Barbara studies at Yale University in Connecticut.
Family history
Mr Bush admitted to having a drink problem in his younger days.
Shortly before last November's presidential election it was revealed that he was arrested for drink-driving 25 years ago after drinking several beers in a bar.
He pleaded guilty to a misdemeanour charge, paid a $150 fine and had his driving licence suspended.
But in 1986 Mr Bush appeared to go through a religious awakening and quit drinking.