An alleged early morning attack on a central Melbourne ATM has left one man with “life-changing” facial injuries.

Police said a device ignited in the face of one of three people who allegedly used homemade explosives to gain access to the ATM.

The incident, which occurred about 2.45pm on Victoria Street, left the man with “serious and life-changing injuries,” a Victoria Police statement said.

Police believe the alleged offenders fled the scene on foot.

The injured man was found on Peel Street a short time later, before being rushed to hospital with serious facial injuries.

He remains hospitalised under police guard.

Arson and Explosives Squad detectives are now investigating the alleged arson and theft.

Arson and Explosives Squad Detective Inspector Chris Murray called the incident a “targeted and opportunistic attack” on the ATM.

“I have said it before, and I will say it again: fire and incendiary devices are volatile, unpredictable, and incredibly dangerous in untrained hands,” Detective Inspector Murray said in the statement.

“Two other men present at the scene fled, leaving their associate severely injured. It is only a matter of time until you are identified and arrested – I would appeal to you to visit your nearest police station and hand yourselves in before then.”

Police also do not believe the ATM explosion is linked to Operation Eclipse, which was launched in April in response to recent incidents targeting Melbourne hospitality venues.

The operation aimed to target organised crime groups believed to be involved in the spate of criminal activity.

Police are urging anyone with information or CCTV footage of Wednesday’s incident to contact Crime Stoppers via 1800 333 000 or report at www.crimestoppersvic.com.au.