Police in the ACT are looking for the driver of a white ute that hit two men in Canberra's north early this morning.

The two 19-year-old victims were walking along a road behind the Rex Hotel in Braddon with two other men about 5:30am (AEDT) when the incident occurred.

They told police the white Mitsubishi tray top had driven past the location once, then returned a short time later and struck the two men, before driving off.

Both victims were taken to Canberra Hospital.

One has serious head injuries and the other minor injuries.

Police are studying security footage from the area and have appealed for witnesses to come forward.