By applying higher powers of the Bogoliubov transformation operator bdagger = v*a + mu*adagger to the two-photon coherent states (or minimum uncertainty squeezed states) we construct a new type of quantum state which we call the generalized excited two-photon coherent states. Analytic expressions for the quantum statistical properties are derived, and through numerical computation the phase space quasi-probability distributions are found. These states can exhibit highly nonclassical behaviour depending on the degree of excitation m and other parameters. For particular values of two parameters lambda and rho, these generalized states reduce to other classes of coherent states formerly reported. Our theory thus presents a much broader approach to these types of quantum states.