Emergency services were alerted at around 7.09pm after concerned members of the public spotted what they believed were two dinghies adrift at sea.
Lytham Coastguard mobilised its volunteers who used a telescope to discover that it was two inflatable rings with one person on each, slowly drifting away from shore.
Crews from RNLI Blackpool swiftly arrived on scene and helped the freezing pair into the lifeboat.
Upon arrival on dry land, the two people were cared for by Coastguard crews at the boathouse before being passed into the care of paramedics.
The coastguard is now warning people about the dangers of using inflatables in open water.
"We were called out at 7.09pm to reports of persons on dinghies drifting out to sea," said a spokesman for Lytham Coastguard.
"We quickly arrived on scene and discovered it was two inflatable rings with one person on each.
"RNLI Blackpool arrived on scene shortly after and recovered them to shore.
"Our volunteers then relocated to the boathouse and assisted with medical care until the arrival of North West Ambulance Service NHS Trust.
"Once they arrived, both casualties were passed into the paramedics care to be checked over.
"Inflatables are NOT for the sea!
"Keep Inflatables for the pool, not open water!"
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