Two teenagers were seriously injured after a boat caught fire on Lake Eildon near Bonnie Doon on the Monday afternoon before the new year.

Emergency services were called to a boat ramp off Hutchinsons Road shortly after 2:10pm following reports a vessel had caught fire on the water.

The two 18-year-old males were treated at the scene before being airlifted to The Alfred Hospital with what paramedics described as serious but non-life-threatening injuries.

Several nearby lake users assisted in the immediate aftermath, with jet ski riders attempting to help extinguish the flames before emergency crews arrived.

Four units from the Country Fire Authority attended and brought the fire under control within about 15 minutes.

Bonnie Doon Fire Brigade said tankers from Maindample, Mansfield and Bonnie Doon were all in attendance.

“A boat fire in Hutchinson’s Road yesterday caused two men to be airlifted to hospital in Melbourne,” the brigade said.

“Firefighters needed to wear breathing apparatus due to the toxic smoke.

“As boat fires require an incredible amount of water to extinguish, we were able to pump the extra water required directly from the lake.

“Great effort from everyone who attended yesterday.”

Victoria Police said the cause of the fire is under investigation, however it is not believed to be suspicious at this stage.

Community members expressed concern for the injured young men and their families, with many offering messages of support following the incident.