Jackman and his children Oscar and Ava were swimming at Sydney's Bondi Beach over the weekend when a riptide swooped in and started causing problems.
The actor reportedly saved his children from drowning while also calling out for the other swimmers to get out of the water.
According to The Hollywood Reporter, National Rugby League player Daniel Conn was also in the water when the riptide attacked.
"I think he was under a bit of pressure with the two kids at once but he was pretty cool, calm and collected, as Hugh always is, I suppose," Conn said, adding that Jackman is a "superdad, superhero and super bloke."
A rep for "super bloke" Jackman confirmed to ABC News that his family is completely fine, adding, "It looks more dramatic than it was."
On Instagram, the beach's lifeguards thanked Jackman for his assistance. Check out their post below along with a video of the incident.
WELL DONE to Patrol 13 captained by Rosie Taliano & Tom Bunting this afternoon who completed 43 rescues in total with only a limited 12 patrolling members rostered on. There were also 3 rescues in the morning completed by Patrol 10. A big THANK YOU to Waverley Duty Officers, @brontesurfclub, @bondisblsc, @bondilifeguards and @surfrescue30 for your extra assistance. The beach had to be closed due to dangerous conditions, multiple rescues happening all at once and limited resources. @thehughjackman was also spotted assisting with rescues! Thanks Hugh #mysurflife #northbondislsc #northbondi #surflifesaving #rescues #bondibeach #bondi #beach #easter #saturday #bondislsc #bronteslsc #bronte #irb #surfrescue30 #hughjackman