The boat caught fire on Lake Nagambie.
Emergency services were called to Nagambie after a boat caught fire at the weekend.
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The fire, which police believe is not suspicious, started while the boat was on the water at Lake Nagambie at around 3.20pm on Sunday, February 8.
Advanced Life Support and Mobile Intensive Care Ambulance paramedics responded to the scene.
An Ambulance Victoria spokesperson said two female children were taken by road ambulance to Goulburn Valley Health in a stable condition.
“Fortunately, no-one was seriously injured,” a Victoria Police spokesperson said.
The investigation into the incident is ongoing.
Anyone who witnessed the incident or with further information is asked to contact Crime Stoppers on 1800 333 000 or report at crimestoppersvic.com.au