Residents near Lake Eppalock (near Bendigo) in central Victoria are being warned to take shelter from a bushfire.

The Country Fire Authority has issued an emergency warning for residents near Myrtle Creek, Lyal, stating it is too late to leave.

The blaze which started about 3.20pm and has burnt 50 hectares is travelling northeast from Lyals Bridge towards Lake Eppalock which is a popular summer holiday spot, a CFA spokeswoman said.

EMERGENCY WARNING – Myrtle Creek, Lyal – bushfire moving from Lyals Bridge towards Lake Eppalock http://t.co/FIRBJVv0i7 #vicfires #alert

— CFA Updates (@CFA_Updates) January 6, 2014

Grassfire continues to burn out of control in #Lyal, near #Bendigo. @Brett_McLeod has the details in #9NewsAt6 pic.twitter.com/Wc5ytcHZzo

— Nine News Melbourne (@9newsmelb) January 6, 2014