A group of kids extinguished a deliberately-lit fire using soft drink in Melbourne's southeast.

Police believe the small blaze was lit by two teenagers who were seen at the western side of an old school on Athol Road in Noble Park about 9pm (AEDT) on Friday.

They believe the teens reached through a steel fate to ignite a chair, a police statement said.

A group of children smelled the smoke and found the fire. After calling emergency services they attempted to put it out.

When they couldn't find water, they pulled some discarded soft drink containers from a nearby rubbish bin and used the leftover drink to douse the flames, extinguishing them.

Police have praised the quick thinkers and are seeking information on the teenagers who may have started the fire.

They are believed to be about 16 years of age, one of African and the other of Asian appearance.

They were seen riding together on a red BMX bike.