We present the final results of the CP-PACS calculation of the light hadron
spectrum and quark masses with two flavors of dynamical quarks. Simulation
s are made with a renormalization-group improved gauge action and a mean-fi
eld improved clover quark action for sea quark masses corresponding to m(PS
)/m(V) approximate to 0.8-0.6 and the lattice spacing a 0.22-0.11 fm. For t
he meson spectrum in the continuum limit a clearly improved agreement with
experiment is observed compared to the quenched case, demonstrating the imp
ortance of sea quark effects. For light quark masses we obtain m(ud)((MS) o
ver bar)(2GeV) = 3.44(-0.22)(+0.14) MeV and m(s)((MS) over bar) (2GeV) = 88
(-6)(+4) MeV (K-input) and m(s)((MS) over bar) (2GeV) = 90(-11)(+5) MeV (ph
i -input), which are reduced by about 25% compared to the values in quenche
d QCD.