Police say it is an "absolute miracle" that two teenagers survived a high-speed car rollover at Yarra Glen, east of Melbourne, which claimed the life of the son of Hawthorn Football Club assistant coach Brett Ratten.

Police said the stolen car veered off Glenview Road in foggy conditions and rolled just after 3:00am.

The back-seat passenger, 16-year-old Cooper Ratten, was thrown 50 metres from the car and received life-threatening injuries.

He died on the way to hospital.

In a statement the club asked for privacy for Ratten and his family "at this tragic time".

Cooper Ratten, 16, was thrown from the car in the early hours of the morning and died at the scene. ( Supplied: Victoria Police )

A 17-year-old Yarra Glen boy who was sitting in the front seat, and the 17-year-old male driver, from Healesville, were both under police guard at The Alfred hospital.

Both are described as being in a serious condition.

All three youths played football together for the Yarra Glen Football and Netball Club under-18s side.

They had been at a club function together before leaving at 12:35am, about 2 hours before the crash.

Club president Vincent Erickson said a courtesy bus was offered after social events and the organisation took measures to ensure under-age people were not allowed to drink.

'An absolute miracle that two people got out alive'

Victoria Police Detective Sergeant David Yeoman said it was a tragic set of circumstances.

"It's an absolute miracle that two people got out of that car alive," he said.

"Speed is an obvious factor in this particular collision."

Carlton Football Club expressed its condolences to Brett Ratten, who coached the team prior to moving to Hawthorn. ( Morne de Klerk: Getty Images )

Police said they also believed that drugs and alcohol may have been involved.

"The two people who have survived we know were wearing seatbelts," Detective Sergeant Yeoman said.

"We don't believe that the person who was ejected [and died] was wearing a seatbelt."

None of the three youths were old enough to hold a licence, although police are investigating whether the driver held a learner's permit.

Detective Sergeant Yeoman said it was very foggy at the time of the crash and drivers needed to be mindful of the conditions.

"It was a pea-souper here last night. And to be doing what is clearly well in excess of 100kph in conditions such as this can only lead to tragedy," he said.

"Driving is not a game. You don't go for a joyride under these circumstances.

"It has tragic consequences with very severe custodial sentences attached to them."

Footy club pays tribute to 'valued member' of team

Mr Erickson said Cooper had played football on Saturday and helped the team reach the finals.

"You could tell when he had the ball out there that he just knew what he was doing," he said.

"He was a valued member of the team that's for sure.

"Cooper just came to the club this year. He's obviously got some football pedigree."

His father, a former AFL player and Carlton coach, had run a footy drill with the team on Thursday night.

"We haven't had a team [in the finals] here in under-18s for nearly three years now," Mr Erickson said.

"So to get them up in the first year and bring them to finals and to have someone like Brett come down on Thursday night, the boys really enjoyed that."

Friends and team-mates gathered at the club to console each other when they learned about the crash.

The Carlton Football Club expressed its condolences in a statement.

"The thoughts and prayers of all connected with the club are with the Ratten family, friends and the Yarra Glen football community at this extremely difficult time," it read.