Members of the Ararat Fire Brigade rescued the man and a 38-year-old woman from a burning house in Kneebone Street, Ararat West, during the early hours of Friday morning.

Country Fire Authority Region 16 operations officer Ian Morley said three units and 25 firefighters attended the blaze at the three-bedroom weatherboard home at 12.28am.

''The fire was quickly contained,'' he said.

''Two firefighters entered the property in breathing apparatus and rescued the two occupants from inside.''

Mr Morley said the occupants required treatment for severe smoke inhalation and were conveyed to the Ararat Hospital by ambulance.

Rural Ambulance Victoria spokesman John Mullen said the pair were taken to Ballarat, before the man was transported to the Alfred by a Mobile Intensive Care Ambulance.

''Normally he would have been transported by helicopter from Ararat, but the weather conditions prevented this and he was picked up by a MICA team from Ballarat,'' Mr Mullen said.

The woman was admitted to the Ballarat Base Hospital.

Police and CFA fire investigators attended the scene in Kneebone Street.

Mr Morley said the source of the fire is yet to be determined, although there is a possibility of suspicious circumstances.

Mr Morley said members from Powercor and the State Emergency Service assisted at the scene, and that the Department of Public Housing had been notified.

He said the damage to the department's property is estimated to be between $30,000 and $40,000.

''Firefighters remained on the scene for two or three hours, mopping up,'' Mr Morley said.

''It was a very good effort by the boys and girls involved to save what could have been a tragic situation.''

The Alfred Hospital was unable to comment on the man's condition.