Police were notified two people were missing at about 11pm after going kayaking on Lake Whakatipu.
Otago Lakes Central acting area commander, Senior Sergeant Fiona Roberts said Police Land Search and Rescue, Coastguard Queenstown, and two rescue helicopters were deployed to search for the pair.
"They were located on the shore in the early hours of this morning, in a good condition.
"While it is fortunate this incident was resolved successfully, this is one of four Search and Rescue incidents in the last week in the Southern District, with one other involving kayaks and two with dangerous high rivers," Snr Sgt Roberts said.
On October 8, one person died following a water-related incident in Milford Sound, Southland after a report of two people needing assistance while kayaking.
Police said these incidents were a reminder for people to ensure they are prepared when going out on a trip in the outdoors, especially in the water.
"If you get into trouble and are wearing a lifejacket, your chances of survival are much greater. Always wear a lifejacket."
They also reiterated the need for personal locator beacons when out in the New Zealand wilderness.
"A registered personal locator beacon is the lifeline when in a life-threatening situation. It provides us with the essential information that can help us get to you."
