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Water Police have confirmed the occupants of the boat were able to get themselves to shore and no one was injured in the incident.
Police and the local Port Authority are arranging salvage of the boat.
EARLIER:
A fishing vessel is stuck on a reef in the waters off Griffiths Island in Port Fairy.
At 9.30am on Wednesday, Port Fairy Marine Rescue Services received a call from Water Police to carry out a salvage mission to save the boat.
Marine rescue services president Russell Lemke said no one was on the vessel with its life boat and a life jacket found on a nearby beach. The vessel had begun to take in water and also had a fuel leak.
Mr Lemke said the marine rescue crew was unable to remove the vessel from the reef.