A man is fighting for his life after his boat collided with a pylon.

Emergency services were called to Condamine Cres in Helensvale, Gold Coast, about 3.30pm on Friday after a boating incident was reported in waters.

WATCH THE VIDEO ABOVE: Boat crash leaves man fighting for life

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The fuel tank ruptured and showered the vessel in petrol.

One man suffered life-threatening chemical burns and was rushed to Gold Coast University Hospital in a critical condition.

A second man sustained head and neck injuries and was transported in a stable condition.

A dog on board was also injured and taken to an emergency vet.

Water police are now investigating the circumstances surrounding the incident.