Three men rescued from life raft off the NSW south coast

Three men have been rescued after their fishing trawler took on water and sank off the NSW South Coast today.

About 7.30am, emergency services were called to Bass Point, Shellharbour, following reports a boat was sinking.

The 22-metre commercial fishing trawler came into trouble when it hit rough seas about 15 nautical miles east of Bass Point.

The three men abandoned the trawler and boarded a life raft, before being airlifted to a cricket oval in Shellharbour by helicopter around 9.30am.

Emergency rescue crews had arrived within an hour from the time the men sent out an emergency signal.

All three were found to be suffering mild hypothermia but were otherwise unharmed.

They were treated at the shore by NSW Ambulance paramedics.

Water Police Sergeant Sean Netting said the men were relieved to have been rescued.

"They weren't in the water very long so they were fit and healthy but happy to be alive," he said.

The boat is believed to have sunk to the sea floor more than 250m below the surface.

Investigations into the cause of the incident are continuing.

All three men were experienced fishermen.