The boaters were picked up Sunday off Metzger Marsh east of Toledo, the Monroe (Mich.) Evening News reported.
The men, whose names were not reported, had been in an 18-foot boat that capsized but they stayed with the overturned craft and called for help, rescuers said.
A 45-foot boat from the Coast Guard's Toledo station was also dispatched to the scene.
The capsized boat and men were spotted at 1:40 p.m. A Coast Guard rescue swimmer jumped into the water and the two men were hoisted into the helicopter.
They were taken to the Toledo Executive Airport and emergency medical services personnel treated them for hypothermia.
"The two individuals did a lot to help themselves from this emergency situation by wearing their life jackets, staying together and staying with their boat," said Lt. Joe Rozycki, the aircrew's co-pilot. "It is much easier to spot the bottom of a capsized boat than to spot a person in the water."