Mysterious yellow watercraft stranded on Queensland's Double Island Point still unidentified

A mysterious bright yellow submarine-like object that washed ashore at a remote beach has baffled marine experts and sparked a hunt for its identity and purpose.

The yellow object was found on the shore at Double Island Point, a beach in the Great Sandy National Park north of Queensland's Sunshine Coast on Thursday morning.

Geoff Feeley was driving along the beach at low tide when he found the object at around 5:15am, taking photos to compare it to other maritime objects to try and identify it.

He said that he's 'never seen anything like it' in his 30 years of camping at the nearby Teewah beach.

The object has a large boat-like body with a long protrusion that holds two lights on its end and two rudder-like components on its rear.

A mysterious bright yellow watercraft (pictured) has raised speculation into its identity after it washed ashore at a remote beach near Queensland's Sunshine Coast

Maratime Safety Queensland have acknowledged the 'buoy' and are attempting to find the identity of its owner 

He said that photographs of similar objects have been photographed being towed behind vessels and were reportedly used for mapping the ocean floor.

Other objects such as military target finders also bear resemblance to the object, however no identification has been confirmed.

'It's the first time I've found anything like this,' he told 7News.

'Maybe the odd coconut before but nothing of this significance.'

Oddly enough, the object washed ashore in the same vicinity as the 1,600-tonne vessel the Cherry Venture did in 1973.

The Scandinavian cargo ship stayed stranded on Teewah beach for 34 years before its removal in 2007.

The general manager of Maritime Safety Queensland, Kell Dillon, said that the state government was 'aware of a buoy' that has run aground. 

Mr Dillon said the authority is making enquiries into identifying the owner of the buoy. 

The object ran aground at Double Island Point (pictured), a couple hours north of the Sunshine Coast - the same beach that 1,600-tonne cargo ship Cherry Venture was stranded on in 1973

'It is also monitoring the risk of the buoy refloating while these enquiries are made and may take action to secure it if necessary,' he said. 

Social media user went wild speculating over the identity of the craft.

'Looks like it was placed there then let the tide wash away the tracks to it,' one Facebook user wrote.

'[It] looks like an encrusted exploration mini sub,' a second user wrote.

'It's a channel marker, it should be anchored to the sea bed,' a third theorised.