Two teenagers have been charged over an illegal steroid ring operating at an elite boys school in northern Brisbane.

Reports say a student was found with illegal steroids by staff at the prestigious St Joseph's Nudgee College, at Boondall.

Police say they were called to a facility at Boondall on Tuesday morning where two teenage boys were arrested for the alleged possession and supply of steroids.

A Clayfield boy, 17, was charged with four counts of supplying and two counts of possessing a dangerous drug or steroid.

He will be dealt with under a drug diversion program.

Another boy, 16, was dealt with under the Youth Justice Act.

The Courier Mail reports school principal Daryl Hanly sent parents an email saying investigations were continuing and could expand to see mobile phones seized and students interviewed.

"In response to information provided to us, a student was found with illegal substances on campus, believed to be steroids," Mr Hanly wrote.

"Due to the serious nature of this issue, police were immediately contacted and continue their investigations."