We apply the 1+1+2 covariant approach to describe a general static and spherically symmetric relativistic stellar object which contains two interacting fluids. We then use the 1+1+2 equations to derive the corresponding Tolman-Oppenheimer-Volkoff (TOV) equations in covariant form in the isotropic, non-interacting case. These equations are used to obtain new exact solutions by means of direct resolution and reconstruction techniques. Finally, we show that the generating theorem known for the single fluid case can also be used to obtain two-fluid solutions from single fluid ones.