It is understood that a vehicle with four occupants was travelling around Lake Goldsmith on Lake Goldsmith-Stockyard Hill Rd - a dirt road - when it slid down a steep 45-degree embankment just prior to 11.30am.

District 16 Duty Officer, Commander Neville Collins said while the vehicle was stuck, the occupants were able to make their own ways out of the vehicle. However, one of them had been thrown from the vehicle on impact and sustained injuries.

While they could get out of the vehicle, the group could not make their way back up the 10-metre embankment.

Emergency services were called to the scene just after 11.30am, including tankers from Lake Goldsmith, Beaufort, Ballarat Rescue and Ballarat City high angle rescue.

Commander Collins said the group were rescued using ropes and were transported to an ambulance on a stokes litter - similar to a stretcher.

An Ambulance Victoria spokesperson said three teenagers were transported to Ballarat Base Hospital in stable conditions.

One of the patients sustained upper and lower body injuries, while the other two sustained minor injuries.

The scene was cleared around 1.15pm.