Two 22-year-olds who failed to report from a rafting trip on the Taieri River in Otago have been found safe and well.

The men had put their raft, made from inner-tubes and plywood, on the river at Hindon about 10am yesterday and they were expected at the Outram Glenn about 4pm.

They didn't show up and a search was launched last night.

A police spokesman said they were found about 3am today on the banks of the river.