Two horses involved in the Magic Millions beach race have been recaptured after they escaped and toured the streets of Surfers Paradise for 20 minutes.

Two jockeys were thrown from their horses towards the end of the race this morning.

It resulted in the horses fleeing down The Esplanade and towards the busy Gold Coast Highway.

Officials for the Magic Millions event managed to capture the horses nearby in Alberta Avenue and place them in a horse float.

A spokesperson for the event said the jockey and horses were not injured.

There were no reports of injuries or horses disrupting traffic.

Horses usually run along the beach at Surfers Paradise as part of festivities around the barrier draw for the annual Magic Millions race at the Gold Coast Turf Club.

Acting Gold Coast Mayor Donna Gates said it was not the first escape from a Magic Millions event this week.

"It's been an interesting couple of days, because a horse escaped on Saturday as he was being loaded into the barriers, jumped through the fence and ended up having a swim in a canal," she said.

"It was captured by the starter actually, who stripped down to his boardies and jumped in and rescued the horse."

Ms Gates said she was glad to see the horses rescued without incident.

"They were captured quickly, no-one was injured and they're back where they belong," she said.

"I was really impressed this morning to be down on beach and to have a look at the Millions and the horses racing along the beach, and every precaution was taken.

"I don't know the circumstances of how those horses escaped, I just know the outcome was good."