Officials said they responded to the scene on Morrill Pond in Hartland just before 3 p.m. Wednesday.
The boat's owner and driver, 43-year-old Acworth, Georgia resident Christopher Gibson, told game wardens that everyone, including the passengers in the boat and his son and son's friend whom he was towing on a tube behind the 18-foot long 1997 Rinker when the fire broke out, safely made it to shore.
Most of Gibson's passengers were under the age of 16, according to game wardens.
Hartland firefighters as well as other boaters on the water assisted in the rescue, and no one was injured.
The cause of the fire hasn't been officially determined, but investigators believe it started within the boat's engine compartment.
The investigation is ongoing.