It is believed the jet boat was travelling at high speeds when it hit a large swell near Cockle Bay.
Ambulance paramedic Ian Johns says the injured are in a stable condition.
"Our intensive-care paramedics found a number of patients complaining of neck, back and chest pain," he said.
"Subsequently we've transported patients to three major Sydney hospitals: St Vincents, North Shore and Royal Prince Alfred."
It is believed one of the injured has a possible broken jaw. Source: abc.com.au