An Australian man was being hailed a hero on Monday after he raced to his friend who had been mauled by a shark on Saturday at a beach in Australian state of New South Wales (NSW).

Dale Carr, 38-year-old father of two, was badly injured and his friend paddled over to him and dragged him ashore and up onto the beach where he applied a tourniquet made by a ripped t-shirt.

Paramedics then rushed him to hospital at Port Macquarie.

A local lifeguard has described the terrifying moment as similar to Mick Fanning, who was rescued by his friend Julian Wilson following a shark attack in July.

It was the 12th shark attack in NSW this year, the most in memory.