The 21ft rib Misty Blue had suffered engine failure just off the coast.
The weather pushed the vessel towards the shore where it eventually came to rest.
The four-man crew placed a call to Humber Coastguard who paged the lifeboat crew at 3.30pm.
Both the inshore and all weather lifeboats were put to sea along with Whitby and Kettleness Coastguard.
As the Misty Blue had drifted into shallow water the inshore boat was used to tow the boat away from the beach and into the harbour.
Lifeboat spokesman Pete Thomson said: "It was a fine day and the sea was calm so it was a pretty straightforward rescue.
"Both boats were launched but only the inshore could get close enough in the shallow water."
The Scarborough registered boat was then taken away for repairs on a trailer on Wednesday night.