Two men have been rescued from a sinking yacht off the top of the Coromandel Peninsula.

Coastguard got a call from the men at 6.30 last night, saying the hull of the 8.5 metre vessel was cracked.

Duty officer Tony Winyard said they'd been sailing between Tauranga and Auckland.

The Lion Rescue vessel sped over to Port Jackson at the top of the peninsula, where it's thought the yacht had hit rocks.

Winyard suspects the men sailed through Colville Channel and got a bit too close to the Peninsula.

The two men are cold and tired and possibly suffering from shock, but otherwise okay.