The incident occurred at Kasar Ghat this evening at around 5.45 pm, when the children were playing in the river, a senior police official said.
Some onlookers saw these children going deep into the water and alerted others. Locals dived into the river and pulled them out. They were rushed to a nearby hospital but declared brought dead, said the officer.
The deceased were identified as Dhiraj Dhumale (8), Ganesh Dhumale (6), Shripad Shahapurkar (8) and Saurabh Shahapurkar (6).
An Accidental Death Report (ADR) was registered at the Pandharpur City police station and a probe was on, said police.