The 12-year-old actor did his best impression of Rogen, a producer on his new movie Good Boys, and Schwarzenegger during Monday's episode of the NBC late-night show.
Tremblay imitated Rogen's laugh for host Jimmy Fallon, saying Rogen's laugh sounds like "Santa if he smokes cigarettes or something."
"That's your movie idea right there," Fallon responded.
Tremblay also mimicked Schwarzenegger in the 1987 movie The Predator and improvised a line about schnitzel.
"Get to the chopper!" the star said.
"I need to eat some schnitzel! It's in my tummy. Yum yum in my tummy," he added.
Tremblay stars with Keith L. Williams and Brady Noon in Good Boys, which opens in theaters Aug. 16. The movie follows the hijinks of Max (Tremblay), a 12-year-old boy, and his best friends (Williams, Noon) after Max is invited to a kissing party.
"All three kids are amazing and sweet and hilarious," director Gene Stupnitsky and producer Lee Eisenberg said of Tremblay, Williams and Noon in a statement to IGN in April.
"We had them do a lot of bonding exercises early on so that they'd feel like friends, but they actually just became friends -- which hopefully comes across in the movie," the pair added.