A toddler has died after being hit by a trailer which was being pulled by a tractor in the state's south-west.

Paramedics were called to a private property in Naringal near Warrnambool at about 11am on Wednesday, following reports the toddler had been struck.

Police will prepare a report for the Coroner.

The investigation into the circumstances surrounding the death are being investigated by police and WorkSafe, police spokeswoman Natalie Dean said.