CCTV footage has captured the moment an alleged arsonist was nearly set alight during a ram raid in a Victorian town.

A grey Ford Ranger Wildtrak ute reversed into the front of a gift shop in Mooroopna, in Victoria’s north, about 5.15am on Tuesday, according to police.

Vision shows a car pulling up to the shopping strip before a masked offender, wearing a red hoodie, steps out of the passenger side carrying a jerry can.

The offender can be seen setting the store alight and nearly setting themself on fire, causing significant damage.

Police believe two cars fled the scene following the fire, with the Ford found dumped nearby, while a dark-coloured SUV was last seen driving south on Watt Road.

Detectives described the offenders as tall with slim builds. Both were wearing black pants, one with a red hoodie, face mask and gloves and the other with a white hoodie.

Mooroopna, 180km north of Melbourne, is situated on the banks of the Goulburn River opposite the larger town of Shepparton.

–AAP