Fire officials say the 32-foot lobster boat named "Mona Jean" caught fire around 7:04 a.m., and owner Kendall Hall was fighting the flames from the dock.
By the time the South Bristol and Bristol Fire Departments arrived, the boat was fully engulfed in flames.
The Coast Guard checked to see if fuel leaked into the ocean, but they did not find any.
All that is left of the boat is the hull.
The boat is now at Bittersweet Landing Boatyard.
Fire officials are still investigating the cause of the fire, but Hall thinks it may have been electrical.
He was brought to Miles Memorial Hospital and treated for smoke inhalation.