Riyaz Ahmad Bajad, Parvez Bajad and Munshi Bajad had gone to the forest area for collecting firewood in Gund area of the district, 65 kilometres from here, when a snow avalanche struck, police said.
The trio were buried under the snow and later rescued by the locals and a police team, they said.
While two of them escaped unhurt, Riyaz has been rushed to a hospital and is in a critical condition, police said.
Heavy snowfall is going on across Kashmir Valley since early morning with authorities issuing avalanche warning for mountainous areas.