WATCH: HUGE great white shark swims with cray divers off Shoalwater

Two brave crayfish divers are counting their lucky stars after an encounter with a huge great white shark off Shoalwater.

Andy Nelson and Tim Ryan watched on as the four-metre shark circled for at least five minutes at Five Fathom Bank last week.

"He's giving me the shark signal quite enthusiastically, I've turned around and still have that image of a head of a very large shark above me," Andy told 9News.

Tim said he kept his eye on the shark the entire time as he laid low in the reef.

"It came straight over my head, like that, with its mouth a little bit open, I could have reached up and touched it," he told 9News.

"I was definitely like yeah, we were a bit concerned.

"The one thing you don't want to do is swim away from a white pointer, cause your feet doing that [paddling] is like bait."

The pair managed to make it back to their boat with an amazing story to tell and footage to back it up.