A coastguard team was alerted to the pair in the water on Monday, near Stevenston Point, in Ayrshire, after receiving an emergency call.
When the rescue team arrived at around 8pm, the jet skiers had made it to shore but needed medical treatment for hypothermia.
The team provided immediate first aid to the pair before they were taken to hospital for treatment.
A lifeboat then recovered the jet ski and towed it to shore.
Both jet skiers were taken to Crosshouse Hospital in nearby Kilmarnock.
A spokesman for Ardrossan Coastguard said: "With both casualties en route to hospital and the jet ski safely recovered, the team thereafter returned to station."