A man has been charged with attempted murder after allegedly setting a grandfather on fire after dousing him with petrol on Friday.

The 34-year-old, who also suffered injuries to his hands, was under police guard in hospital and was charged with the attempted murder of Victor Graveson last night.

His case was briefly heard in the Brisbane Magistrates Court this morning, where it was adjourned until Monday.

Mr Graveson continues to fight for his life in hospital with burns to 80 per cent of his body after the alleged attack, which occurred just after 9:00am on Friday.

Victor Graveson suffered burns to 80 per cent of his body. ( Facebook: Victor Graveson )

Investigators said he was asleep in bed at his property on Teesdale Road in Alexandra Hills, on Brisbane's bayside, when an accelerant was allegedly poured on him.

Mervyn Graveson said his cousin suffered horrific burns.

"Vic was running out of the door, on fire, so that's when my brother put the hose on him," he said.

"Vic did say, 'They poured petrol on me and burnt me', he said that, but he didn't say names.

"From head down was all skin gone, the whole lot … all his clothes burnt off ... [on] all of his legs the skin was gone.

"[I've] never seen anything like that in my life, and I don't want to see it again."

Mervyn Graveson said he saw someone running down the street soon after.

"He just took off, he was gone," he said.

Mervyn Graveson says his cousin's skin was burnt off. ( ABC News: Liz Pickering )

Victor Graveson has a long criminal history and has spent a large part of the last 20 years in jail for drug offences.

However the motive for Friday's attack remains unclear.

On Friday, Queensland Police Acting Inspector Dave Farley said the victim had suffered 80 per cent burns to his body.

"We're sure some kind of flammable liquid's been used — he's been set alight," he said.

"At this stage we understand there may have been a couple of witnesses but those statements haven't been obtained at this stage."

He confirmed the victim and alleged attacker were known to each other.