The two men hired a fishing boat from Queenston, Ont., early Wednesday afternoon.
The captain of the vessel later told officials that after he made his way from the Niagara River to Lake Ontario, one of the two men who hired him pulled a knife and demanded to be taken to shore.
The captain took the pair to shore on the U.S. side, near Four Mile Creek State Park in New York, a release from the U.S. Coast Guard said.
“Both men had phones and began making calls as they fled the scene on foot,” the statement said.
Crews have searched the surrounding shoreline, but haven’t found any sign of the two hijackers.
Niagara Regional Police were not immediately available for comment.