Emergency services were called to the scene on Kirkstall-Koroit Road at Kirkstall, outside Warrnambool, where they found two injured men around 10.20am on Friday.

Both, who are yet to be formally identified, died at the scene.

The body of a third man was found in a house in nearby Chamberlain Street, Kirkstall later on Friday.

Police believe the men were known to each other.

Media reports say a witness who lives near where the two men were found heard several gunshots around the time of the incident before a car sped away.

The circumstances surrounding the deaths are yet to be determined but police say they are not looking for anyone else in connection with their investigation.

Australian Associated Press