A family has escaped unharmed after an alleged arson attack on their home in Melbourne's north-east overnight.

Police are investigating the suspected "targeted" attack on a home in Ford Court, Mill Park, just after 1am.

"Detectives have been told a family, who were home at the time, were able to evacuate to the rear yard after they were woken by the fire and heard what sounded like gunshots," a spokesperson said.

"It's believed no shots were fired [and] the residents were lucky to escape injury."

Investigators will look into whether the fire is linked to any other incidents.

A crime scene has been established, and an arson chemist and detectives are expected to attend the scene later today.