Exmouth RNLI inshore lifeboat launched to reports of a capsized boat near Dawlish Warren on Sunday afternoon.
The crew was called to Cockwood after HM Coastguard raised the alarm shortly before 5.30pm.
Initial reports were that the upturned vessel was missing its rudder, or central board, and two people were in the water.
An Exmouth RNLI spokesman said: “On arrival at the location it was established that the boat appeared undamaged, had been righted and both occupants were back on board.
“The boat and its passengers were safely escorted to shore. There were no injuries.”