The men called Humber Coastguard for help at 11:45 after they found themselves stranded half a mile north of the Tyne piers.
The volunteer crew were paged and the lifeboat launched a few minutes later, speeding to reach the 8m vessel.
Once on scene, a tow rope was quickly attached and the men and the boat towed to safety in the Tyne. Once the boat was secure and the men ashore the lifeboat returned to station.
Lifeboat: 17-20 Spirit of Northumberland